2023 Sees Major Regulatory Scrutiny and Legal Actions Against Crypto Industry Players
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SEC cracks down hard on crypto in 2023 after FTX collapse, filing lawsuits against major players like Genesis, Gemini, Nexo, Kraken, Bittrex, Coinbase, and Binance.
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CFTC and DOJ also go after crypto companies and founders, including lawsuits against Binance, Celsius, and conviction of Sam Bankman-Fried.
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Changpeng Zhao forced to step down as Binance CEO, pays $4.3B fine, and pleads guilty to money laundering.
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Crypto companies fight back - Ripple and Grayscale score court wins against SEC.
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Future unclear - some predict continued regulatory scrutiny in 2024, others see potential turnaround and clarity on rules.