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U.S. securities regulators reasserted their authority to supervise virtual asset service platforms, or VASPs, on Monday and Tuesday, accusing the world's two largest cryptocurrency exchanges of violating registration, disclosure and consumer protection standards. Civil complaints filed by the Securities and Exchange Commission, or SEC, against Cayman Islands-based Binance, the world's largest cryptocurrency exchange, and San Francisco-based Coinbase, the largest exchange in the United States, rest on the agency's interpretation that federal statutes render trading platforms and certain cryptocurrencies subject to securities law. Binance and Coinbase qualify as securities exchanges, in the SEC's view, because they host trades that consist of...