The US SEC (Securities and Exchange Commission) has recently set off a big uproar. They have filed a lawsuit against two major exchanges in an unprecedented manner. This news has caused a huge shock in the financial market, and investors have been talking about it. Which two major exchanges have been hit hard by the SEC? Let's unveil the veil of this storm and see the inside story and impact.

As a regulator of the US financial market, the SEC has been maintaining the fairness, justice and transparency of the market. Recently, they filed a lawsuit against the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange (Nasdaq), accusing them of violations in trading and seriously damaging the interests of investors. As one of the world's largest trading platforms, the news that these two exchanges were sued by the SEC has undoubtedly shocked the market.

First, let's take a look at the SEC's charges against the New York Stock Exchange (NYSE). It is reported that the SEC listed many cases in the indictment, pointing out that the NYSE had serious dereliction of duty in trading supervision and information disclosure. For example, in a certain block transaction, the NYSE failed to detect abnormal trading behavior in time, resulting in huge losses for investors. In addition, NYSE was accused of omissions in the stock listing review and failure to fully review the company's true financial situation, which brought great risks to investors.

For Nasdaq, the SEC's allegations directly pointed to the problems of its trading system. It is understood that the SEC found in its investigation that Nasdaq's trading system had serious loopholes and instability, which led to multiple trading interruptions and information delays. These problems not only affected the normal operation of the market, but also brought great uncertainty to investors and damaged the credibility of the market.

This SEC's prosecution of the two major exchanges will undoubtedly have a far-reaching impact on the entire financial market. First, investors' confidence in the market may be shaken to a certain extent, and they may re-examine the transparency and fairness of the market. Secondly, the exchange may increase investment in supervision and risk control and strengthen internal management to avoid touching the regulatory red line again. Finally, the regulatory authorities may further increase their supervision of the market and promote the market to develop in a more standardized and transparent direction.

In general, the SEC's prosecution of the New York Stock Exchange and the Nasdaq Stock Exchange has aroused widespread attention and heated discussion in the market. This is not only a warning to the order of the financial market, but also a reminder to market participants. It is hoped that with the joint efforts of regulators and market participants, the financial market will be able to develop more healthily and stably, creating more opportunities and benefits for investors. This action by the SEC once again demonstrates its determination and ability to maintain market order, injecting a shot of adrenaline into the long-term development of the market.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The SEC is responsible for supervising securities companies registered in the United States, including stock exchanges, brokers, investment advisors and asset management companies. It reviews the registration applications of many companies, supervises the business operations of companies, and screens for violations and punishes and investigates them. Recently, the SEC has successively filed multiple charges against two major crypto asset exchanges, which has caused huge changes in the currency circle. The regulatory storm in the currency circle has intensified again, which has triggered strong emotional fluctuations among investors in the currency circle. Which two major exchanges did the SEC sue? It can cause such strong emotional fluctuations among investors. The following editor of the currency circle will answer this question in detail for all investors. 

 Which two major exchanges did the US SEC sue?

The US SEC sued Coinbase and two major exchanges. On June 5, local time, the US Securities and Exchange Commission (SEC) announced on its official website and social platforms that it had filed 13 charges against the world's largest crypto asset exchange entity and its founder Zhao Changpeng, including operating unregistered exchanges, broker-dealers and clearing agencies, providing false trading control and supervision statements on the Binance.US platform, and offering and selling securities without registration.

The next day, the U.S. Securities and Exchange Commission (SEC) accused Coinbase, Inc. (hereinafter referred to as Coinbase), the largest crypto asset exchange in the United States, of operating its crypto asset trading platform as an unregistered securities exchange, broker-dealer and clearing agency. The SEC also accused Coinbase of offering and selling securities related to the staking-as-a-service program without registration.

The global crypto asset trading field will move towards mainstream, compliance and institutionalization, which is an irreversible trend. As the crypto market continues to grow and mature, regulators will pay more attention to protecting investor interests and maintaining financial stability, including stricter registration requirements, compliance regulations and the implementation of regulatory measures to ensure the legal operation of exchanges and platforms and reduce market risks.

In addition, regulators may also strengthen supervision of anti-money laundering (AML) and counter-terrorist financing (CFT) measures for cryptocurrencies to reduce the risk of illegal activities and financial crimes. Driven by regulation, the crypto industry may face more compliance and transparency requirements, and some new regulatory frameworks and regulations may also be introduced.

 What are the impacts of the U.S. SEC prosecution?

The direct impact of the US SEC's lawsuit on the market caused stock prices to plunge and the price of coins to plummet. As soon as the news of the SEC's charges came out, Coinbase, which was listed on the Nasdaq, fell by nearly 17% in the morning trading of the same day. The price of Bitcoin fell below $26,000 that day, the lowest value in the past three months. Many other small coins were also affected, with weekly declines ranging from 5% to 25%.

The US SEC's lawsuit has caused a setback in the confidence of the currency circle and asset outflows. Due to the sudden regulatory charges by the SEC, and the accused Binance and Coinbase are both important platforms in the currency circle, the shadow of FTX last year made investors extremely sensitive to risks. The SEC's charges mentioned that the court should freeze BinanceUS funds and directly named the top ten mainstream coins, which will inevitably cause some users to sell and exchange them into stablecoins such as USDC and USDT.

According to statistics, on June 6 and 7, the transaction volume of on-chain DEX increased slightly. This is because investors stopped mining and staking to avoid risk after the market fluctuated, and remained in a temporary wait-and-see state. In addition, many foreign media and industry big Vs came out to support Binance Coinbase, expressing their trust and confidence in them. Due to the market noise and currency price fluctuations caused, many people were dissatisfied.

Foreign media Blockworks directly criticized SEC Chairman Gary
Gensler in a column, believing that he undermined the interests of the country and the people, and believed that he was insufficient in regulating cryptocurrencies. Instead, he adopted radical policies to stifle innovation. Big V media believed that digital assets are an inevitable trend. If the SEC uses such a regulatory method of "I suspect you are involved, I accuse you first, but I have not yet disclosed direct evidence", it is simply driving the Web3 revolution out of the United States.

All of the above is the detailed answer of the editor of the currency circle to the question of which two major exchanges the US SEC sued. The SEC's supervision of the digital market helps maintain market order, enhance investor confidence, and promote the development of the capital market. However, the security of the digital currency market needs to be jointly maintained by blockchain technology, encryption algorithms, encrypted wallets, and other aspects. Investors also need to have self-protection awareness, be vigilant to avoid leaking private keys and sensitive information, choose trusted exchanges and wallets, regularly update software and systems, and take necessary security measures to protect their assets and privacy.