SEC Sues Coinbase on Unregistered Securities Exchange Allegations
Posted on AllSides June 6th, 2023
From The Center
The U.S. Securities and Exchange Commission (SEC) sued U.S crypto exchange Coinbase (COIN) on allegations of violating federal securities law, a day after filing a similar suit against Binance.
According to the SEC, Coinbase has operated as an unregistered broker, exchange and clearing agency simultaneously, arguing that it solicited customers, handled orders, allowed for bids and acted as an intermediary all at once. The suit named Coinbase, Inc. and Coinbase Global, Inc. as defendants, but did not name founder and CEO Brian Armstrong or any other executive.
"The Coinbase Platform merges...
