April

The U.S. Securities and Exchange Commission has official filed a lawsuit against leading cryptocurrency exchange Coinbase following yesterday&#8217;s official complaint against centralized exchange Binance.



In a <a href="https://storage.courtlistener.com/recap/gov.uscourts.nysd.599908/gov.uscourts.nysd.599908.1.0.pdf">101-page document</a>, the SEC has outlined Coinbase operating as an unregistered broker, unregistered trader, unregistered clearing agency. They also argued that Coinbase had &#8220;participated in violated the &#8220;registration provisions of the Securities Act of 1993&#8221; due to it&#8217;s offering of various cryptocurrencies and earn products on it&#8217;s site.



Cryptocurrencies mentioned in the suit as securities include SOL, ADA, MATIC, NEAR, VGX, DASH, NEXO, and more.



Also Read: <a href="https://chaindebrief.com/sec-sues-binance-and-ceo-cz-claims-bnb-and-busd-are-securities-in-latest-filings/">SEC Sues Binance and CEO “CZ”, Claims BNB and BUSD are Securities in Latest Filings</a>



<h2 class="wp-block-heading" id="strong-sec-has-yet-to-official-respond-to-coinbase-8217-s-lawsuit-strong">SEC Has Yet To Official Respond To Coinbase&#8217;s Lawsuit</h2>



In a stunning turn of events, the SEC has managed to file an official complaint against Coinbase, despite <a href="https://www.cnbc.com/2023/04/24/coinbase-sues-sec-after-months-of-silence-from-federal-regulator.html">themselves being sued </a>by the cryptocurrency exchange months ago.



Following a period of silence with respect to Coinbase&#8217;s official response to a <a href="https://twitter.com/brian_armstrong/status/1638654192138199041">Wells notice issued by the commission. </a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Met with the SEC today. We’ll continue pushing for a clear rule book in the U.S. for crypto regs. The U.S. can’t afford to fall behind on this important technology to update the financial system. Also important for regulators to set policy and THEN enforce it. Not start with… <a href="https://t.co/EaPD7wDbSx">pic.twitter.com/EaPD7wDbSx</a>&mdash; Brian Armstrong <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e1.png" alt="🛡" class="wp-smiley" style="height: 1em; max-height: 1em;" /> (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1649465612987449344?ref_src=twsrc%5Etfw">April 21, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Furthermore, the SEC&#8217;s most recent suit came in spite of apparent efforts by Coinbase CEO Brian Armstrong to achieve better regulatory clarity in crypto from the SEC.



Also Read: <a href="https://chaindebrief.com/binance-statement-to-sec-we-are-prepared-to-fight-it-to-the-full-extent-of-the-law/">Binance Statement To SEC: We are prepared to fight it to the full extent of the law</a>



[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]



Featured Image Credit:&nbsp;Chaindebrief

SEC Accuses Coinbase of Operating Unlicensed Exchange, Claims Even More Cryptocurrencies are Securities

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