What reports of the SEC investigation of Coinbase have missed is the unique nature of the SEC’s jurisdiction. The SEC probe of Coinbase is likely vast and infinite in an unusual way.
First off, the SEC is looking for fraud, market manipulation, insider trading, registration failures and other securities violations relating to Coinbase’s crypto-trading platform operations. But there is also likely a second and equally targeted SEC realm of inquiry, which Coinbase has probably never experienced before.
Given that Coinbase is also a US public company that submits quarterly, annual and other filings to the SEC, the SEC is also likely investigating the accuracy of those filings.
Source: (9) Post | LinkedIn