SEC's Possible Legal Action Sends Coinbase Stock Plummeting
TL;DR
Coinbase Global received a Wells notice from the Securities and Exchange Commission (SEC) stating that SEC staff had made a "preliminary determination" to recommend an enforcement action against the largest U.S. crypto exchange for violations of federal securities laws. Coinbase stock was down 12% in premarket trading on Thursday morning after falling just as much through Wednesday. Coinbase said in its filing that it "believes" any action relates to specific crypto assets listed on the platform will include aspects of the exchange's spot market, staking service, Prime and wallet services.
- Coinbase stock plunges on possible SEC legal action over securities laws Yahoo Finance
- Coinbase warned by SEC of potential securities charges CNBC
- Coinbase Gets SEC Notice on Intent to Sue Over Offerings Bloomberg Television
- Justices Appear Divided in Crypto Arbitration Dispute | National Law Journal Law.com
- Coinbase drops 22% after SEC takes a view IG UK
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