Probably don’t have to spend a whole heck of a lot of time here, but if you didn’t know already, *gasp* the SEC is going after Coinbase now, too.
The SEC claims that $COIN has operated as an unregistered broker since at least 2019. The other things Coinbase is accused of:
- Operating as an unregistered Securities Exchange
- Operating as an unregistered Clearing Agency
But, they were cool with Coinbase’s IPO in April 2021.
On the same day, *gasp* Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin have likewise gone after Coinbase.
While Coinbase has expressed a willingness to work with the SEC, it disagrees with the SEC’s position that all digital assets on its platform should be registered as securities.
In the February 13, 2023, Litepaper, we looked at Coinbase’s public posts that they’re ready, willing, and want to duke it out with the SEC, so this isn’t a big surprise.