SEC sues Coinbase, alleges multiple securities law violations

The U.S. Securities and Exchange Commission (SEC) is suing Coinbase, America’s biggest cryptocurrency exchange, for allegedly breaching securities laws.

The SEC claims Coinbase operated as an unregistered broker, exchange, and clearing agency and offered unregistered securities via its Staking Program. Coinbase’s actions, according to the SEC, exposed investors to significant risk, prioritizing profit over investor interests and legal compliance

This lawsuit comes a day after the SEC filed similar charges against Binance for similar securities laws violations.

This is a breaking story.