SEC seeks to use Terraform ruling to gain advantage in lawsuit against Coinbase, Binance

The SEC is seeking to use its victory in the Terraform Labs case to increase oversight of cryptocurrency exchanges such as Coinbase and Binance. Last week, a court ruled that the products issued by Terraform were securities, which the SEC believes should help strengthen its regulatory efforts. The SEC tried to convince the judge that in the Coinbase and Binance cases, the products users traded on these CEXs were unregistered securities. (coindesk)