The Securities and Exchange Commission (SEC) issued a multitude of accusations against two major crypto exchanges, Coinbase and Binance, initiating a legal conflict that can shape the destiny of digital currencies.

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Allegations on Binance Binance and its founder, Changpeng Zhao, are accused of violating securities laws by allowing US customers to trade on Binance.com despite the prohibition on users from the United States.

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Allegations on Coinbase Coinbase has been charged by the SEC for engaging in the securities market without proper registration and operating as an unregistered securities exchange, broker, and clearing agency.

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What's now for crypto? Regardless of regulatory outcomes within the US, the international adoption of cryptos is unlikely to be greatly impacted.

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In fact, any stringent regulatory actions taken in the US may even accelerate the adoption of these assets outside the country.

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The positive aspect is that users and companies will finally receive clarification on whether cryptos can be classified as securities.

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For detailed information, read the blog on WazirX.

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