Coinbase Threat Shows There’s a New Crypto Sheriff in Town

(Bloomberg) -- U.S. Securities and Exchange Commission Chair Gary Gensler just put the cryptocurrency industry on notice of how far the regulator will to go to tame a market he’s labeled the wild west of finance.

In threatening to sue Coinbase Global Inc. if the exchange lets customers earn interest on their digital tokens, the SEC sent a warning to other firms already offering similar products or contemplating doing so.

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Coinbase Threat Shows There’s a New Crypto Sheriff in Town