There would be no easy fix should the SEC’s arguments prevail in court. Its complaint goes far beyond arguing that the exchange is trading digital assets that should be registered as securities. It also alleges that Coinbase should be registered with the SEC as an exchange, broker-dealer and clearing agency. It additionally alleges that Coinbase’s staking program—in which customers can buy crypto and earn rewards when that crypto is put to use on a blockchain—should have been a registered offering.
Source: SEC’s Coinbase Complaint Sets Off Battle for Crypto’s Future – WSJ
