After years of threatening to hold virtual currency companies to the standards for exchanges, SEC Chair Gary Gensler appears to be making good. Halfway through 2023, the agency has already announced 15 separate SEC enforcement actions targeting at least nine crypto firms and 22 individuals with various securities infractions. Two notable cases came earlier this month, with the SEC suing Binance and Coinbase on charges that industry leaders predict will take years to work through the court system. The Anti-Corruption Report spoke with Jeff Kern, a partner at Sheppard Mullin, and Amanda Tuminelli, chief legal officer for the DeFi Education Fund, about the agency’s moves and what they indicate about possible forthcoming actions. See “Is Coinbase a Warning to Other Crypto Players?
” (Feb. 15, 2023).