“Coinbase was considered one of the better-run crypto companies that tried to obey the rules and work with the regulatory bodies,” Edward Moya, senior markets analyst at Oanda said in a note Tuesday. “The risk of tougher regulation has been a constant headache for crypto, and it seems that a couple of tough rulings could cripple a good portion of the cryptoverse,” he added. “If some cryptos are deemed securities, that would make the life of so many brokerages so much harder.”
Source: https://www.coindesk.com/business/2022/07/26/coinbases-20-decline-leads-crypto-names-lower-following-report-of-sec-probe/?utm_medium=referral&utm_source=rss&utm_campaign=headlines