After Binance, the SEC sues Coinbase
· Regulation · MarketsFN Team
The U.S. Securities and Exchange Commission (SEC) has accused Coinbase, America’s leading cryptocurrency exchange, of breaking securities laws. According to the SEC, Coinbase has been operating as an exchange, a broker, and a clearing agency without the requisite registration. The SEC also stated that Coinbase has been involved in offering and selling securities without properly registering these activities.
This event unfolded just a day after the SEC lodged accusations against Binance. The cryptocurrency exchange is alleged to have clandestinely funneled billions of dollars in customer assets to a distinct company under the control of its founder and CEO, Changpeng Zhao. The SEC’s allegations also include the operation of unregistered securities exchanges, broker-dealers, and clearing agencies. Additionally, Binance is accused of offering and selling crypto assets, including its Binance USD stablecoin, a digital currency tied to the value of the U.S. dollar, without the proper registrations.
BITCOIN is trying to rebound after yesterday selloff, finding some resiliency and support in are 25,450$.