The U.S. regulator has told the Delaware-incorporated crypto-trading platform that some of its services and listed digital assets may violate securities law. (The Logic)
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The U.S. regulator has told the Delaware-incorporated crypto-trading platform that some of its services and listed digital assets may violate securities law. (The Logic)
Talking point: The Securities and Exchange Commission has been escalating enforcement action against the sector and is now targeting one of the biggest names in crypto. Separately on Wednesday, the regulator also announced charges against Tron blockchain platform founder Justin Sun and celebrities Jake Paul, Lindsay Lohan and Soulja Boy for promoting Sun’s crypto assets. In a blog post, Coinbase complained the SEC is regulating by enforcement and has not given the platform a path to registration, despite its efforts. Meanwhile, in Canada, where Coinbase is the most popular crypto platform, a deadline to submit an agreement to follow certain rules in order to continue operating while it pursues full registration looms Friday. In an email, Coinbase spokesperson Annica Benning said “we don’t have anything to share at this time” regarding whether the company intends to submit an agreement by the deadline. Coinbase has previously told The Logic it is working with Canadian regulators.
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