The stakes in an ongoing battle between the Securities and Exchange Commission and Coinbase got higher on Tuesday as the agency's chairman, Gary Gensler, suggested the biggest crypto exchange in the U.S. may be breaking the law. Speaking at a hearing convened by the Senate Banking Committee, Gensler observed that Coinbase did not have a license to operate as a stock exchange "even though they have dozens of tokens that might be securities." Gensler's remark was notable given that it did not come in response to a direct question about securities, but instead as an aside while replying to a query from Sen. Elizabeth ... (full story)