SEC files lawsuit against crypto exchange Coinbase
The US Securities and Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase in federal court in New York. Just like with Binance, the SEC accuses Coinbase of violating securities laws.
And just like in yesterday’s lawsuit, the Commission published another list of tokens that were recognized as securities, among them: SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH and NEXO.
In a statement, the SEC writes:
“Coinbase has never registered with the SEC as a broker, national securities exchange, or clearing agency. In this way, Coinbase is evading the disclosure regime that Congress has put in place for the securities markets. At the same time, Coinbase generates billions of dollars of income, in particular, through transaction fees from investors whom Coinbase has deprived of the disclosure of information and protection that registration entails. ”
The statement indicated that the defendants were Coinbase, Inc. and Coinbase Global, Inc., but there was no mention of founder and CEO Brian Armstrong or any other executive.
Source: bitcoinlinux.com
