This sucks for American exchanges! Careful investigation can be fatal for them.

Following an investigation by Coinbase, the SEC or the Securities and Exchange Commission decided to expand their operations to other exchange platforms in the United States. Since the SEC has jurisdiction to operate in traditional financial markets, it also considers itself competent to investigate certain aspects of cryptocurrencies. Indeed, crypto world securities tokens are comparable to stock market securities.

SEC Primary Target: Coinbase

A few days ago, the SEC launched an investigation into Coinbase regarding the listing of its assets. Indeed, the institution criticizes the platform for offering its users tokens that should be considered as securities, i.e. “securities”. According to the Securities and Exchange Commission, this is a crime, but Coinbase claims that the securities are not listed.

Recall that in a previous case, Coinbase fired one of its employees who was accused of insider trading. It was this case that prompted the SEC to extend the action to other exchanges. About forty cryptocurrency trading platforms will be affected.

Example of a scam: Asuka’s developer exit scam.

Among the risks in the field of cryptography is an exit scam. Ignorant and uninformed users risk becoming its victims. This is a scam where the perpetrator of the scam continues to get paid for new orders while they have stopped shipping.

A certain amount of time may elapse between the moment when deliveries stop and the moment payments continue. As a result, the scammer leaves with the money. Jongchan Jang, developer of Asuka, a fork of York.Finance (YFI), abandoned the project with the funds raised just 2 days after its launch.

us exchange

Researched Bitcoin Buying Sites

Without an official list of platforms that may be affected by the US investigation, let’s take a look at some exchanges using cryptocurrencies that may be involved:

  • eToro: The easy-to-use platform allows users to buy bitcoins with PayPal or a bank card.
  • Binance: One of the world leaders in the cryptocurrency market, this platform offers a wide range of cryptocurrencies besides bitcoin.
  • Bitpanda: This easy-to-use platform offers a fast and secure way to invest in digital financial assets.

The SEC is recognized as an observer of the US stock market. Its actions allow you to regulate financial activities using cryptocurrencies. While its regulation affects everyone’s freedom and even privacy, it’s clear that new forms of online fraud require heightened surveillance and close scrutiny.


Passionate about cryptography, NFTs and everything related to the blockchain, I share all my tips with you on my blog! Attention, I am not an expert and what I say should in no case be taken as absolute truth. I am not an investment consultant 🙂

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