The U.S. Securities and Exchange Commission (SEC) has begun to scrutinize the activities of every single cryptocurrency exchange registered in the country. This was reported to Forbes by an assistant to Senator Cynthia Lummis.

According to him, the regulator’s Coinbase investigation is just the tip of the iceberg. For other bitcoin exchanges, the process is in various stages. According to CoinGecko, there are 40 registered platforms in the US.

An unnamed senior official at one of the companies confirmed that the ministry will sue some of them. He also did not rule out that bitcoin forks such as Litecoin could receive the status of a security.

The SEC did not respond to the journalists’ request.

The senator’s aide stressed that Gary Gensler’s office wanted to end its conflict with the United States urgently. CFTC It’s about the authority to oversee crypto companies. He added that Congress, which supports Rostin Benam’s agency’s approach, could intervene in the process if the agencies cannot resolve this issue on their own.

During the interview, team member Lummis made it clear that this dialogue was not particularly fruitful.

The situation was exacerbated by the SEC lawsuit against Coinbase’s former employee and accomplices for insider trading. The agency classified 9 out of 25 cryptocurrencies as securities that defendants used in their transactions.

Later, Gary Gensler announced that ways to register digital assets as investment contracts are being developed and efforts to register cryptocurrency platforms are intensifying. In May, an official warned of possible prosecution of unregistered bitcoin exchanges.

The CFTC has criticized the SEC lawsuit against a former Coinbase employee.

In July, a group of senators enacted the Digital Products Consumer Protection Act. It obliges firms that offer to trade in digital assets to register with the CFTC.

FTX CEO Sam Bankman-Fried said the bill complements previous initiatives by Cynthia Lummis and Kirsten Gillibrand, as well as Ro Hannah. Also supported by Benam.

The Forbes interlocutor estimated the probability that each invoice will be approved by the end of the year at less than 50%.

Recall that the CFTC announced the establishment of the Technology Innovation Office, which will regulate the industry.

Binance.US had previously delisted the AMP token due to the SEC lawsuit against Coinbase.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.