Latest

SEC sues largest U.S. cryptocurrency exchange Coinbase

The largest U.S. cryptocurrency exchange Coinbase went the way of Binance, received a lawsuit from the U.S. Securities and Exchange Commission (SEC).<br

According to the lawsuit, Coinbase has been operating in the country since 2019 as an unregistered broker and trading in cryptocurrencies that are securities.</nbsp;The authors of the lawsuit assure that Coinbase "never registered as a broker, national securities exchange or clearing agency," thereby avoiding disclosure to the securities markets.</nbsp

The regulator named SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO as securities

The SEC previously went to the D.C. Circuit Court, publicly stating Monday, June 5, that the Binance administration and personally its CEO, Changpeng Zhao, failed to restrict access to its trading platform to U.S. customers and “misrepresented critical information, thus misleading investors about their means of controlling the market.”

Coinbase CEO Brian Armstrong recently said that the negative stance of U.S. regulators toward cryptocurrencies only plays into the hands of China and other countries. Armstrong has often criticized the SEC for fines and bans against cryptocurrency companies.