SEC's legal action against Coinbase threatens future of crypto in the US.
TL;DR Summary
Coinbase, the largest crypto exchange in the US, received a Wells notice from the SEC regarding potential violations of securities laws, which could lead to formal charges. The move could hurt institutional interest in the already battered crypto industry, according to industry participants. If Coinbase loses its battle with the SEC, it could mean the end of the crypto industry in the US, said Kavita Gupta, founder and general partner of Delta Blockchain Fund. The SEC has been doubling down on its efforts to increase oversight of the crypto industry, after several major companies collapsed last year, resulting in billions of investor losses.
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- Coinbase Gets SEC Notice on Intent to Sue Over Offerings Bloomberg Television
- Coinbase warned by SEC of potential securities charges CNBC
- The SEC Is Coming for Coinbase Bloomberg
- Coinbase stock plunges on possible SEC legal action over securities laws Yahoo Finance
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