Weekly Roundup 06/09/23 (SEC v Coinbase and Binance, Market Structure bill, the curious case of Prometheum) (EP.430)
On The Brink with Castle Island
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Binance and Coinbase News Dropped on Monday
Gensler is trying to get on the board here with a win. This thing looks pretty tough if you're Binance. It goes after them for being an unregistered exchange, but it also goes into some pretty intricate detail around their mishandling of Know Your Customer Rules. So I look at this and say, you know, it's quite different from the Coinbase one in the sense that you're explicitly being accused of mishandling customer funds. If any of that stuff's true, I don't know how B Finance US makes it out of this.
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