US SECURITIES REGULATORS have sued Coinbase, alleging that the cryptocurrency platform’s failure to register as a securities exchange venue exposed investors to risk.
The largest crypto assets trading platform in the United States, Coinbase had 110 million users and $80 billion in assets at the end of 2022. “The SEC’s reliance on an enforcement-only approach in the absence of clear rules for the digital asset industry is hurting America’s economic competitiveness and companies like Coinbase that have a demonstrated commitment to compliance,” said Paul Grewal, general counsel of Coinbase.“The solution is legislation that allows fair rules for the road to be developed transparently and applied equally, not litigation,” Grewal said. “In the meantime, we’ll continue to operate our business as usual.
The SEC said Coinbase’s “staking-as-a-service” program should have been registered as a securities offering.
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Source: IrishTimes - 🏆 3. / 98 Read more »
Source: IrishTimes - 🏆 3. / 98 Read more »