SEC Informs Crypto Exchange Coinbase of Potential Securities Law Violations
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The U.S. Securities and Exchange Commission (SEC) has sent Coinbase a “Wells notice” about potential violations of securities law. The Nasdaq-listed cryptocurrency exchange noted that, unlike what SEC Chairman Gary Gensler said, the securities regulator “will not let crypto companies ‘come in and register.’” Coinbase CEO Brian Armstrong explained: “A Wells notice typically precedes an enforcement action.” Coinbase Receives a ‘Wells Notice’ From SEC Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Wednesday that it has received a “Wells notice” from the U.S. Securities and Exchange Commission (SEC) “regarding an unspecified portion of our listed digital assets, our staking service Coinbase Earn,
Coinbase, one of the leading cryptocurrency exchanges, has been charged by the Securities and Exchange Commission (SEC) for operating as an unregistered national securities exchange, broker and clearing agency. The SEC also accused Coinbase of failing to register its crypto asset staking-as-a-service program. The complaint alleges that since 2019, Coinbase…