SEC sues Coinbase for operating as an unregistered broker
Following on from binance yesterday
$COIN $47.83 -10.88 (-18.52%) Pre-Market
After ▼ -5.84 (-9.05%) yesterday
From the complaint:
SEC says Coinbase has operated as an unregistered broker since at least 2019
Crypto assets that Coinbase makes available put Coinbase’s operatings ‘squarely within the purview of the securities laws’
Coinbase’s staking program includes five stakeable crypto assets, makign the staking program an investment contract and therefore a security
Coinbase has never registered as a broker, evaidign the disclosure scheme for securities markets