[Opinion Piece] There might be no such thing as a legal US crypto exchange

There may be no legal way to run a cryptocurrency exchange in the United States, since the SEC's actions suggest even Coinbase cannot operate one lawfully. The Securities and Exchange Commission filed suit against two major exchanges, Binance and Coinbase, in the week before June 12, 2023. If Coinbase cannot operate a legal exchange, it is hard to imagine any other firm being able to.