Cryptopocalypse

It was a disastrous week for cryptocurrency in the United States, as the Securities Exchange Commission (SEC) filed suit against the two biggest exchanges, Binance and Coinbase, on a theory that makes it nearly impossible to run a cryptocurrency exchange that is competitive with overseas exchanges. Nick Weaver lays out the differences between “process crimes” and “crime crimes,” and how they help distinguish the two lawsuits. The SEC action marks the end of an uneasy truce, but not the …

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