BREAKING: The SEC sues crypto exchange Coinbase in New York federal court.
in New York federal court on Tuesday morning, alleging that the company was acting as an unregistered broker and exchange and demanding that the company be "permanently restrained and enjoined" from continuing to do so.
Shares fell 15% in premarket trading Tuesday. Coinbase stock had already fallen 9% on Monday, after the SECCoinbase's flagship prime brokerage, exchange and staking programs violate securities laws, the regulator alleged in its. The company "has for years defied the regulatory structures and evaded the disclosure requirements" of U.S. securities law.
The SEC has alleged that at least 13 crypto assets available to Coinbase customers were considered "crypto asset securities" by the regulator. Those assets include Solana's
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