Coinbase Global Inc. received a Wells notice from the SEC, signaling that the agency plans to sue on the grounds that the crypto exchange's tokens and other products, including aspects of its staking service Coinbase Earn and Coinbase Wallet, are securities that should be registered.As result, the shares of Coinbase fell almost 15-20% on Thursday morning after the firm revealed the SEC may take legal action over the crypto exchange’s product. On the other hand, The company hopes legal action would clarify the SEC's stance on crypto, which it claims is divided within the commission. The internal divisions have resulted in uneven enforcement.
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