Jun. 7, 2023
SEC says Coinbase is unregistered exchange
Coinbase argues that the SEC reviewed its business and allowed the company to go public in 2021, and its CEO Brian Armstrong called for Congress to pass new legislation to "fix the situation."
The question of whether a cryptocurrency is a security goes to the heart of the U.S. Securities and Exchange Commission's complaint filed Tuesday against Coinbase Global Inc.
The SEC accused Coinbase of operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency.
"The Coinbase platform merges three functions that are typically separated in traditional securities markets -- those of brokers, exchanges, an...
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