It's not about guesswork but rather about facts. In one of my articles that I wrote earlier today, I mentioned that the Securities and Exchange Commission (SEC) would go after Coinbase, and hours later, the regulator came out swinging, accusing Coinbase of illegally acting as a broker since 2019.

The regulator made its position clear and staked its claim as the entity that makes and monitors decisions in the securities market. They also assert that no crypto industry can act however it wants and disregard rules because one day they will be called out, and today that reckoning has arrived.

The organization, through its actions, loudly affirms its duty to provide consumer protection, which is an interesting part of the complaint in the document that prosecutes Coinbase. However, it's somewhat strange since in two days, the entity has caused more financial damage to investors than it has protected, as the market is in the red with yet another communication.

This lawsuit against Coinbase comes a day after the SEC also sued Binance, alleging a series of violations conducted by the cryptocurrency trading platform. The highlight is accusing the exchange of trading securities, and to everyone's surprise, these include coins such as Matic, Solana, Ada, FIL, and six others that the SEC now considers securities in North America.

This lawsuit against Binance had already caused significant losses in Bitcoin, and with this new lawsuit against Coinbase, the situation worsened. Gary Gensler's team no longer hides the fact that they want nothing to do with the crypto market, even though they know they might lose this new case against Coinbase.

Indeed, the Coinbase case has interesting peculiarities that the legal team can leverage to their advantage and hold the regulator accountable for its actions.

According to a knowledgeable lawyer in the field, whom I greatly admire, the Coinbase case has reasons to be successful for the exchange, as the regulator in 2021 approved the platform to have NASDAQ licensing and more.

In 2021, the chairman of the Securities and Exchange Commission, Gary Gensler, testified before the U.S. Congress and inadvertently mentioned that, under the current securities law, the agency has no legitimacy to act against cryptocurrency exchanges.

Now, where the recent legislation comes from to crack down on exchanges, I don't know where the power comes from because they should have authorization from the U.S. Congress for that.

Therefore, another attack by the American regulator has been launched against a cryptocurrency exchange, whether legitimate or not, but the damage has been done. Contrary to their claims, it does not protect the investor but rather further impoverishes their portfolio. In just two days, the market has been greatly affected.

Once again, I would like to hear your comments on Coinbase being sued. What can we expect from the market now? And what is the regulator seeking with these crackdowns on the crypto industry? Leave your comments below, and let's discuss the matter together.

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