Hello friends,
I am doing good, and I hope that you are having a good time with your near and dear ones.
There has been a lot of chaos in the USA for the last few months and SEC has been a player that has been trying to target many exchanges. If name then some of these are Gemini, Coinbase, Kucoin, etc and out of these names Coinbase is not calm. Coinbase was questioned on the staking products and later they also announced that they are not going to stop such products, and this will continue as usual.
Recently Coinbase shared an update that they are considering exiting the US because of ongoing regulatory issues. Gemini has also announced that they are going to do the same as the strict regulations are making things difficult. Even though other exchanges like Binance are silent on the matter but Coinbase is not, and the exchange has questioned back the SEC asking for clarity. It's the right thing that SEC should provide clarity on the regulation to avoid any confusion so that the same is not repeated anymore.
If other exchanges also do the same then it creates some pressure and SEC will be paying more attention to this hopefully, they will be more careful before they target any exchange. I like this news update and what Coinbase has done is good and other exchanges should also follow the same. This is important to keep ourselves updated and I do read the news daily to see what is happening around the world in the crypto market. This is needed for most of us to keep ourselves informed and have a better understanding of the blockchain stuff. I will try to chase this news update and see how SEC reacts to this and their response going to be on this.
Thank you
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