The SEC accused Coinbase of performing the functions of a securities exchange, broker, and clearing agency ― entities that have expansive reporting requirements ― since at least 2019.
The Securities and Exchange Commission has filed a lawsuit against Coinbase, alleging that the company was working as an unregistered securities exchange.
The SEC said Coinbase has since at least 2019 made billions of dollars by operating as a middleman on crypto transactions, while evading disclosure requirements meant to protect investors.
The SEC is suing Coinbase Inc., accusing the cryptocurrency exchange of never registering with the regulator and for operating as an unregistered broker.
Coinbase was sued by the SEC for allegedly operating as an unregistered exchange, its also under fire from ten state regulators and its stock has dropped almost 14% in early trading.
"We'll continue to operate our business as usual," Coinbase said after the suit, which comes one day after regulators levied 13 charges against fellow exchange Binance.
A day after bringing similar charges against Binance, the U.S. government continued its cryptocurrency crackdown by filing a complaint against Coinbase.
The Securities and Exchange Commission sued Coinbase on Tuesday, charging the company violated federal laws by not registering as a broker, exchange or clearing agency.
Shares of Coinbase fell 20% in premarket trading Tuesday after the Securities and Exchange Commission sued the crypto company for allegedly violating securities law. The SEC charged Coinbase for operating as an unregistered securities exchange, broker and clearing agency. The move comes a day after
The Securities and Exchange Commission ssays the U.S.’s largest crypto platform violated rules that require it to register as an exchange and be overseen by the federal agency.
The Securities and Exchange Commission is charging Coinbase with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. Coinbase w…
US securities regulators sued Coinbase, alleging that the cryptocurrency platform's failure to register as a securities exchange venue exposed investors to risk.
