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.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
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.Article content 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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