Coinbase continues to steer through uncertain waters. In addition to the mass layoffs that became known recently and a case of insider trading by a former employee, there are now also regulatory problems. Because like Bloomberg reported, the Securities and Exchange Commission (SEC) is said to have launched investigations into the US crypto exchange. The allegation: sale of unregistered securities to US citizens.
General Counsel Paul Grewal pointed out the allegations on Twitter return. “We are confident that our rigorous due diligence process – a process already reviewed by the SEC – keeps securities off our platform.”
In total, Coinbase has a little over 150 tokens on offer. If these are classified as securities, the exchange would need to register as a stock exchange with the SEC.
Meanwhile, allegations against crypto companies by the SEC are not new. For example, the legal dispute between Ripple and the SEC continues. Here, too, the authority assumes that unregistered securities will be sold. It remains to be seen whether the Coinbase cause will take on similar proportions.