Shares of crypto companies dropped on Monday as the U.S. government continues to crack down on major parts of the industry. 

Shares of Coinabse Global (NASDAQ: COIN) fell as much as 6% in early trading, Silvergate Capital (NYSE: SI) dropped 6.5%, and Lido DAO (CRYPTO: LDO) was down 11.3% in the last 24 hours. They were down 1.5%, 5%, and 11.3% respectively at 12:30 p.m. ET. 

Last week, the U.S. Securities and Exchange Commission (SEC) shut down exchange Kraken's staking platform, arguing that it was a security. Today, the New York Department of Financial Services said it will sue Paxos for selling stablecoin (a token pegged to a traditional currency) BUSD as an unregistered security.

Continue reading

Source Fool.com