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Join the Securities Litigation and Enforcement Group on LinkedInWhat reports of the SEC investigation of Coinbase have missed | John Reed Stark on LinkedIn
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 […]
Coinbase Faces SEC Investigation Over Cryptocurrency Listings – Bloomberg
Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter. The US Securities and Exchange Commission’s scrutiny of Coinbase has increased since the platform expanded the number of tokens in which it offers […]
SEC Will Need to Prove Tokens Are Securities in Coinbase Insider-Trading Case, Legal Expert Says
Ian McGinley, now a partner at the law firm of Akin Gump Strauss Hauer & Feld, told CoinDesk TV’s “First Mover” Friday that the SEC couldn’t have filed the case unless the tokens in question are securities. “They don’t have a wire fraud statute like the DOJ does,” McGinley said, referring to wire fraud charges […]
The Crypto Securities Market is Waiting to be Unlocked. But First We Need Workable Rules. | The Coinbase Blog
TL;DR: Coinbase filed a petition asking the SEC to begin rulemaking on digital asset securities. The existing rules for securities just do not work for digital assets. Our petition calls on the SEC to develop a workable regulatory framework for digital asset securities guided by formal procedures and a public notice-and-comment process, rather than through […]
Ex-Coinbase Employee and 2 Others Charged With Insider Trading of Crypto Assets – The New York Times
The prosecutors, as well as the Securities and Exchange Commission in civil charging documents, said Ishan Wahi, who at the time was part of a Coinbase team that listed assets on the exchange, passed on confidential information about when some cryptocurrency assets would be listed to his brother, Nikhil Wahi, and his brother’s friend Sammer […]
The Crypto Security Debate Goes to Court – WSJ
Investors are asking the courts to decide an existential question for the cryptocurrency industry: whether digital tokens are, for legal purposes, more similar to stocks or to gold. Attorneys for cryptocurrency-trading platform Coinbase Global Inc. filed a motion this month to dismiss a class-action lawsuit arguing that 79 of the tokens listed on the firm’s […]
Coinbase Enters Fortune 500 List of Biggest US Companies
Coinbase (COIN) has entered the Fortune 500, a ranking of the U.S. biggest companies by revenue, becoming the first cryptocurrency company to join the list. The Nasdaq-listed crypto exchange posted revenue of over $7.8 billion in fiscal 2021 to place 437th in the 2022 list published Monday. Source: Coinbase Enters Fortune 500 List of Biggest […]
Coinbase Cracks Down on Front-Running of New Crypto Listings – Bloomberg
In a blog post Thursday, Chief Executive Officer Brian Armstrong said Coinbase is implementing new procedures, so people wouldn’t be able to guess, by examining Coinbase’s blockchain activity or playing around with its software, if it’s considering listing new tokens. “While this is public data, it isn’t data that all customers can easily access, so […]
Coinbase facing massive class action lawsuit over unregulated securities sales – CoinGeek
The suit is brought on behalf of all Coinbase users and complains that the cryptocurrency exchange has been selling securities that are unregistered with the U.S. Securities and Exchange Commission (SEC), amounting to 15 violations of securities laws, including the requirement for those selling securities to register as an exchange. Coinbase CEO Brian Armstrong is […]
Coinbase drops plans to launch interest product after CEO’s SEC comments
Coinbase has decided to halt its plans to launch an interest-earning product two weeks after CEO Brian Armstrong took the SEC to task on Twitter for its lack of guidance on the matter. The newly public cryptocurrency services firm said in an update on its blog Friday that it will not launch Coinbase Lend, which […]