The SEC has informed Coinbase of potential securities law violations after more than 30 meetings with the crypto exchange. securities cryptocurrency
The U.S. Securities and Exchange Commission 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.
“A Wells notice typically precedes an enforcement action,” said Coinbase CEO Brian Armstrong on Twitter. “Two years ago the SEC reviewed our business in detail and approved Coinbase to go public. Our S1 [filing] clearly explained our asset listing process and included 57 references to staking,” the executive described.with the securities watchdog.
Noting that “Coinbase has a rigorous process to analyze and review each digital asset before making it available on our exchange — a process that we shared in detail with the SEC as part of our public listing,” the exchange concluded:
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