Coinbase offers a fiery response to the SEC's threat of enforcement action
Publishing timestamp: 2023-04-27 18:05:50
Summary
Coinbase has responded to a Wells notice from the Securities and Exchange Commission (SEC), stating that any enforcement action against the exchange would "fail on merits" and would present "major" risks to the SEC's regulatory model. The SEC's warning to Coinbase noted that the regulator would allege Coinbase was offering and selling unregistered securities, in violation of federal law. Coinbase argues that proposed charges rely on "flawed and untested" theories involving investment contracts, spot markets, and custody services. Coinbase is represented by Sullivan & Cromwell.
Sentiment: MIXED
Tickers: COIN,
Keywords: breaking news, politics, markets, cryptocurrency, coinbase global inc, bitcoin, technology, products and services, cryptocurrency exchanges, business news,
Source: https://www.cnbc.com/2023/04/27/coinbase-offers-fiery-response-to-sec-wells-notice-.html