News

SEC Reportedly Investigating Coinbase Over Cryptocurrency Listings

The US Securities and Exchange Commission (SEC) is now examining whether the cryptocurrencies offered on the exchange are securities, only days after charging two former Coinbase product managers and two others with insider trading.
SEC Reportedly Investigating Coinbase Over Cryptocurrency Listings 3

The exchange has caught the attention of the United States Securities and Exchange Commission (SEC) over cryptocurrency listings. Sources familiar with the matter told Bloomberg that the SEC is investigating whether the exchange lets users trade assets that should have been registered as securities.

The probe has not been made public yet, and the SEC has not commented on the Bloomberg report. The publication said that the SEC had increased its scrutiny of the exchange after increasing the number of tokens on the platform. Chief Legal Officer of Coinbase Paul Grewal said over Twitter:

In recent months, Coinbase has significantly increased its token offering, which is now over 150. If the SEC manages to treat those tokens as securities, the exchange will require registration with regulatory authorities.

On July 21, a former Coinbase manager, Ishan Wahi, his brother, and a third individual were detained in a significant indictment for insider trading in the crypto business.

SEC Reportedly Investigating Coinbase Over Cryptocurrency Listings 4

During this period, the SEC argued with Coinbase over classifying tokens like ENS, GALA, POWR, and ALCX as securities. On the other hand, the DOJ and the CFTC do not appear to concur with the SEC’s comments.

Coinbase’s capacity to expand has also been hampered by the recent crypto market slump. It recently imposed a hiring freeze, and several prospective workers had their offers withdrawn. Following the layoffs, the exchange presented an update on operational efficiency.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

36 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

56 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

1 hour ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

2 hours ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

2 hours ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

3 hours ago

This website uses cookies.