At the federal level, the Securities and Exchange Commission has taken action against prominent industry players including centralized crypto exchanges Bittrex, Kraken and Gemini, crypto lender Genesis (which is owned by CoinDesk parent company Digital Currency Group) and individual actors such as Tron founder Justin Sun in recent months, deepening an existing digital asset market downturn.
Source: https://www.coindesk.com/policy/2023/05/03/blockchain-association-leaves-new-york-as-federal-regulatory-fight-looms/?utm_medium=referral&utm_source=rss&utm_campaign=headlines