SEC’s Coinbase Fight Puts Exchange, Crypto Survival on the Line

The agency’s bruising experience in SEC v. Ripple had exercised “a chilling effect” on its desire to bring enforcement actions, particularly “on things that weren’t actually fraud or bad actors,” said Daniel McAvoy, a shareholder at Polsinelli in New York. “But the collapse of FTX really accelerated things and put the emphasis on policing the industry.”