Crypto Exchanges providing Billions of Dollars in Crypto Assets to US Customers reportedly told to cease trading and or leave the US… Singapore, UAE, and Hong Kong Expected to be the beneficiary

Below excerpt article reported by Yang. Y. (2023, June 5). SEC’s Regulatory Net Now Covers $115 Billion of Crypto After Lawsuit Against Binance. Bloomberg

SEC’s Regulatory Net Now Covers $115 Billion of Crypto After Lawsuit Against Binance

“The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agency’s lawsuits against Binance Holdings Ltd. and Coinbase Global Inc. ”

“…Who actually gets hurt by this is Coinbase, Kraken and other US-based exchanges, who then have to make a decision on whether to delist, and US market makers, who potentially have to stop making markets on some of the tokens being listed as securities,” said Jeff Dorman, the chief investment officer at digital-asset specialist Arca.”

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