Few assets have performed better in 2023 than crypto, yet the outlook for the industry in the U.S. has arguably never looked worse amid a broad regulatory crackdown led by Securities and Exchange Commission Chairman Gary Gensler.
The severity of the situation is illustrated by cryptocurrency exchange Coinbase’s COIN Monday decision to take the SEC to court, demanding that the agency respond to a request made last July to issue new rules to govern regulation of digital assets, including a new framework on how the agency will…