Why did the SEC crack down on crypto trading platforms?

Saying most crypto tokens are securities, the SEC has cracked down on crypto trading platforms, including the top U.S. exchange Coinbase, in an effort to bring the industry under its oversight. Crypto firms have long disputed the SEC's jurisdiction but until Thursday no court had supported that view.

Will the SEC Challenge a ruling on crypto?

While the cryptoverse was celebrating, some legal experts said they believe the SEC will challenge the ruling in the 2nd U.S. Court of Appeals to stop judges hearing other cases from ruling that other crypto assets sold on exchanges are not securities.

Is the CFTC better positioned than the SEC to regulate crypto?

Currently it primarily oversees crypto futures and has the ability to take enforcement action if there’s fraud or manipulation in the underlying market. Crypto backers argue that the CFTC, which has brought dozens of crypto enforcement actions, is better positioned than the SEC to regulate the asset class.

Is a cryptocurrency a securities?

It considers coins that are digital representations of other assets, such as unlisted shares, to be securities. In June, the European Union reached a provisional agreement to impose common cryptocurrency rules across all 27 member states and to develop a new legal framework to regulate public offers of cryptoassets.