3 ms·
The SEC suit is for Coinbase’s staking-as-a-service, not all their trading activity. EDIT: I was mistaken! Apparently they are being sued for the combined brok
by mattdesl 3y ago
The SEC suit is for Coinbase’s staking-as-a-service, not all their trading activity.
EDIT: I was mistaken! Apparently they are being sued for the combined brokers, exchange, and clearing agency activities; in addition to their staking-as-a-service activities.
https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-102.pdf https://www.sec.gov/files/litigation/complaints/2023/comp-pr...
- pavlov 3y agoNo, the latest SEC lawsuit against Coinbase is for running an unregistered securities exchange, broker and clearing house: https://www.forbes.com/sites/emilymason/2023/06/06/coinbase-hit-with-sec-suit-that-identifies-37-billion-of-crypto-tokens-as-securities/ https://www.forbes.com/sites/emilymason/2023/06/06/coinbase-... This is the very heart of Coinbase’s operations. If they’re found to be a securities exchange, they won’t be allowed to mingle the broker and clearing house functions, and the company would have to be split.
- mattdesl 3y agoThanks for the correction. No such thing as safe CEX under the SEC, I guess. I do wonder what they imagine a legally-registered CEX would look like... only accredited investors can purchase and transfer crypto? Or, if it were up to Gensler, Coinbase would only sell Bitcoin?