US President Joe Biden, orders administration to pledge for a change in the way crypto exchanges operate with funds of customers and corporate
US President, Joe Biden made it clear to the administration that the crypto exchanges have to maintain separate corporate funds and separate customer funds. Since, the law of SEC asks Coinbase to jam the funds of customers in a bankrupt situation, it could cause a lot of problem for the customers as it could rob off their savings, money saved for educational purposes. To address the problem, the federal government plans to lobby US lawmakers to require crypto businesses to keep their customers' funds walled off under a future legal framework.