The Securities and Exchange Commission sued Coinbase Global Inc. alleging the crypto firm for years broke its rules. Read on.
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The regulator said in a 101-page complaint that Coinbase, the largest U.S. crypto platform, evaded regulations by letting users trade numerous crypto tokens that were actually unregistered securities. Coinbase fell 15 per cent to US$50 at 8:52 a.m. EDT in New York.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
The SEC is seeking an order that would require Coinbase to comply with securities laws, and give up what the agency says were ill-gotten gains. Bloomberg reported in July that Coinbase was under SEC investigation. On March 23, the company said it had received a warning notice from the regulator about a coming enforcement action.
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