SEC sues Coinbase, alleges multiple securities law violations SEC sues Coinbase, alleges multiple securities law violations
The regulator has come for Coinbase a day after filing suit against Binance.
1 min read
Updated: Jun. 6, 2023 at 3:37 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The U.S. Securities and Exchange Commission (SEC) is suing Coinbase, America’s biggest cryptocurrency exchange, for allegedly breaching securities laws.
The SEC claims Coinbase operated as an unregistered broker, exchange, and clearing agency and offered unregistered securities via its Staking Program. Coinbase’s actions, according to the SEC, exposed investors to significant risk, prioritizing profit over investor interests and legal compliance
This lawsuit comes a day after the SEC filed similar charges against Binance for similar securities laws violations.
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Jacob Oliver
Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. He holds a Ph.D. from the University of Washington.
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Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.