On June 6, 2023, the SEC filed a complaint in the Southern District of New York against Coinbase, Inc. (Coinbase), and Coinbase Global, Inc. (CGI), alleging a number of violations of the US federal securities laws (the Coinbase Complaint).
United StatesCorporate/Commercial Law
On June 6, 2023, the SEC filed a complaint in the Southern
District of New York against Coinbase, Inc.
(Coinbase), and Coinbase Global, Inc.
(CGI), alleging a number of violations of the US
federal securities laws (the Coinbase
Complaint)1 that are substantially similar to
those alleged in the complaint filed just one day prior against
Binance.
Allegations
1. Operation of an Unregistered Exchange, Broker-Dealer,
and Clearing Agency
The SEC alleges Coinbase violated the Exchange Act and acted as
an unregistered broker, an unregistered exchange, and an
unregistered clearing agency by offering its crypto trading
platform (Platform). It also alleges Coinbase
acted as an unregistered broker in providing its Coinbase Prime
product and Coinbase Wallet product.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
View source
