Market

SEC Investigation With Coinbase Could Seriously Affect Crypto

The SEC investigation into Coinbase is still ongoing, Michael Bacina, an Australian digital asset lawyer told Cointelegraph that the investigation could see far-reaching impact on crypto exchanges and the token projects involved.

Is Coinbase under investigation affecting the crypto market?

Michael Bacina, an Australian digital asset lawyer with Piper Alderman told Cointelegraph that the impact on exchanges and projects could happen whether the tokens are ultimately securities or not.

“Given many of the tokens the SEC has called securities in their insider trading prosecution are listed and trading on Coinbase and other exchanges, this investigation could have serious and chilling effect for both those exchanges and the token projects, whether or not an ultimate finding is the tokens are or are not securities.”

He said

According to a legal expert, a Securities and Exchange Commission (SEC) investigation into this exchange’s alleged trading of unregistered securities may have a “severe and chilling effect” on cryptocurrency exchanges and token initiatives.

As has been updated in previous Coincu News articles, Coinbase is currently under the SEC investigation into whether it allowed US investors to trade assets that should have been registered as illegal securities or not. This investigation was launched shortly after the former Coinbase executive was charged with insider trading.

Bacina noted that Coinbase “could face very substantial fines” or potentially be required to register as an exchange in the U.S. as a result of the investigation.

Meanwhile, Coinbase has continued to deny it had listed any securities.

Paul Grewal, chief legal officer of Coinbase reiterated on July 25 to his Twitter followers that he is  “confident” in the platform’s “rigorous diligence process” which keeps securities off its platform.

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

Foxy

CoinCu News

Victor

Recent Posts

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

8 minutes ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

1 hour ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

2 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

2 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

4 hours ago

Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory

BTFD Coin is offering a chance to relive the glory days of meme coin investing,…

5 hours ago

This website uses cookies.