SEC Sues Crypto Giant: Coinbase Faces Major Legal Battle

SEC sues Coinbase over alleged securities law violations, escalating the battle over crypto regulation.

Posted June 6, 2023 at 9:43 am EST.

The Securities and Exchange Commission, or SEC, filed a lawsuit against Coinbase, Inc. and Coinbase Global, Inc. The SEC alleges that Coinbase has been operating a trading platform without registering as a broker, national securities exchange, or clearing agency.

Coinbase, the largest crypto asset trading platform in the United States, services over 108 million customers and accounts for billions of dollars in daily trading volume across hundreds of crypto assets.