BREAKING: The SEC has filed a lawsuit against Coinbase, alleging that the company was working as an unregistered securities exchange.
The SEC lawsuit was filed Tuesday in the U.S. district court for Southern District of New York and claimed the crypto asset trading platform acted as an unregistered federal securities exchange, broker, and clearing agency. The SEC said it should be “permanently restrained and enjoined” from doing so.
“You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” said Gurbir Grewal, director of the SEC’s enforcement division.
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