BREAKING: SECGov has sued coinbase on charges of violating federal securities law, a day after filling a similar suit against rival binance. By nikhileshde.
, Coinbase has operated as an unregistered broker, exchange and clearing agency simultaneously, arguing that it solicited customers, handled orders, allowed for bids and acted as an intermediary all at once. The suit named Coinbase, Inc. and Coinbase Global, Inc. as defendants, but did not name founder and CEO Brian Armstrong or any other executive.
The SEC pointed to Coinbase's Prime, Wallet and staking products, as well as the actual tokens it lists, as areas where it violated federal securities laws.Coinbase knew some of the cryptos it made available to U.S. customers may have checked the boxes for securities, the SEC argued, pointing to its Crypto Ratings Council effort, which the exchange spearheaded in 2019 to try and create an informal system to assess whether a cryptocurrency was a security.
The SEC identified solana , cardano , polygon , sandbox , filecoin , Axie Infinity , Chiliz , flow , internet computer , near , voyager , dash and nexo as securities in the suit.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase stock falls 10% after SEC sues Binance for unregistered securitiesCoinbase falls 10% after the SEC sues rival crypto exchange Binance for violating securities law
Read more »
SEC Sues Coinbase—Alleges Crypto Trading Platform Operated As Unregistered Exchange Since 2019The suit comes one day after regulators levied 13 charges against fellow exchange Binance.
Read more »
SEC sues Binance in US District Court for unregistered securities operationsThe lawsuit also named Binance CEO Changpeng Zhao as a defendant.
Read more »
Coinbase shares plummet as SEC sues rival crypto exchange BinanceCoinbase's shares lost as much as 12% after news broke that the SEC was suing rival exchange Binance.
Read more »
Coinbase sued by SEC one day after regulator sues BinanceThe United States Securities and Exchange Commission has struck again — this time suing Coinbase — one day after filing a lawsuit against exchange Binance.
Read more »
SEC sues Coinbase over exchange and staking programs, stock drops 15% premarket
Read more »