Our colleague, Caitlin Ostroff, covers crypto currencies.

And kind of top line, what happened this week?

Oh, God so much.

And somehow it's still only Tuesday.

So Monday morning is when the Securities and Exchange Commission sued Binance, which

is this crypto exchange giant.

It started to quantify just how much bigger it is than everything else.

And then if that weren't enough, we woke up this morning Tuesday and all of a sudden

they had also sued Coinbase, which is the biggest US exchange.

So yeah, lots happening on the regulatory front this week.

You know, the line that crypto has had for ages is that cryptocurrency's by and large are

not within the scope of regulators' purview that these aren't the same as talks or bonds.

And because of that, or not within their agreement, well, the SEC has come out and said,

well, yes, actually it is.

Binance has said it will defend itself against litigation.

And Coinbase accused the SEC of taking an enforcement only approach.

How would you describe this moment for crypto?

It feels like all of a sudden the tension has really badcheted up.

We've been kind of in this slow burning move towards regulators cracking down on crypto.

And then all of a sudden you have this burst of activity and it feels like crypto is a little

bit in a fight for its life, at least in the US.

Welcome to the journal, our show about money, business, and power.

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