SEC brings charges against cryptocurrency trading platform Coinbase

Coinbase was also charged for failing to register the offer and sale of its crypto asset staking-as-a-service program.

The SEC complaint also alleges that Coinbase’s holding company, Coinbase Global Inc., is a control person of Coinbase and therefore is also liable for some of Coinbase’s violations.warned “While Coinbase’s calculated decisions may have allowed it to earn billions, it’s done so at the expense of investors by depriving them of the protections to which they are entitled. Today’s action seeks to hold Coinbase accountable for its choices,” Gurbir Grewal, director of the SEC’s Division of Enforcement, said in a statement on Tuesday.The SEC’s complaint was filed in U.S. District Court for the Southern District of New York.

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Coinbase Becomes the Latest Target of SEC: Accused of Unregistered Brokerage and Securities Violations – Bitcoin News'We allege that Coinbase commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,' SEC chair Gary Gensler said.
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