The US Securities and Exchange Commission (SEC) has launched lawsuits against two major players in the cryptocurrency industry, Binance, and Coinbase, accusing them of operating as unregistered securities exchanges and selling unregistered digital assets. The move follows long-standing disagreements between the SEC and the accused exchanges, particularly Coinbase, which has previously petitioned for and sued the SEC over its handling of digital asset regulation. The lawsuits have the potential to introduce regulatory uncertainty and cause price volatility in the cryptocurrency market. If the SEC is successful, exchanges may need to adapt their business models, potentially affecting market liquidity and token availability. The legal actions also raise doubts over regulatory clarity in the crypto industry, which could impact investor sentiment and market performance.