In March, the securities regulator sent the company a Wells notice, warning it had identified potential violations of U.S. Coinbase and the SEC have been in a legal back-and-forth for several weeks. To some, it seemed like just a matter of time before the SEC brought action against Coinbase as well. After the SEC brought its suit against Binance, bitcoin fell more than 5% to below $26,000, and its lowest level since March, while ether slid about the same amount to roughly $1,800. "One wrinkle is it probably disrupts liquidity on one of the largest crypto exchanges in the world, and that's never a short-term good." BTC.CM= 5D mountain Bitcoin (BTC) after the SEC's lawsuits against Coinbase and Binance It's possible investors got their jitters out during Monday's sell-off. "Historically, regulators stepping in to clean up the uglier parts of crypto has been a long-term benefit to the industry - I think that will be true here," Hougan, chief investment officer at Bitwise, told CNBC. For investors, that could signal the beginning of the end of the "regulatory dark clouds" that have loomed over the industry since January, according to Bitwise Asset Management's Matt Hougan. The SEC alleged Coinbase has been acting as an unregistered broker and exchange, among other complaints, and demanded the company be "permanently restrained and enjoined" from continuing to do so. At one point in the afternoon, bitcoin and ether had nearly recovered their losses from the previous day's crypto market sell-off, sparked by the SEC's lawsuit against Binance, the largest crypto exchange in the world. Investors took the legal move as a sign of progress for the industry, which often claims a lack of regulatory clarity is impeding its development. crypto exchange and first publicly listed crypto company, turned into a positive one. What began as a muted reaction Tuesday to the SEC's lawsuit against Coinbase, the largest U.S. Securities and Exchange Commission has already brought legal action against two of the biggest platforms in crypto - and to the surprise of some, crypto prices are climbing. Personal Loans for 670 Credit Score or Lower
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