On March 22, Coinbase, one of the world’s largest crypto exchanges, was sent a notice by the US Securities and Exchange Commission (SEC) warning that the regulator planned to sue, alleging the company had violated securities laws. Crypto assets, the SEC insists, are securities, and so fall under its jurisdiction. But on March 27, Binance, the world’s biggest crypto exchange, and its founder Changpeng Zhao were charged by a different regulator, the Commodities and Futures Trading Commission (CFTC), with breaking commodities laws—because, the CFTC says, popular crypto assets are commodities.
That two different exchanges can be sanctioned by two different regulators for alleged violations
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