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 has facilitated the buying and selling of billions of dollars’ worth of crypto asset securities without proper registration, combining the functions of an exchange, broker, and clearing agency. The SEC claims that Coinbase’s failure to register has deprived investors of essential protections such as SEC inspection, recordkeeping requirements, and safeguards
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Author: coinmaker