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The SEC Is Fighting the Last War

SEC chair Gary Gensler wants you to think Coinbase and Binance are the same as FTX and Celsius. They’re not.

By David Z. Morris
Updated Jun 14, 2024, 5:55 p.m. Published Jun 7, 2023, 5:54 p.m.
SEC Chair Gary Gensler recently intimated to CNBC that he believes cryptocurrency is useless. That helps justify his treatment of exchanges like Coinbase as inherently fraudulent. (Kevin Dietsch/Getty Images)
SEC Chair Gary Gensler recently intimated to CNBC that he believes cryptocurrency is useless. That helps justify his treatment of exchanges like Coinbase as inherently fraudulent. (Kevin Dietsch/Getty Images)