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SEC Alleges Coinbase Violated Security Laws, Delivers Wells Notice

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By 247patrick Updated Published
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SEC Alleges Coinbase Violated Security Laws, Delivers Wells Notice

© krblokhin / iStock Editorial via Getty Images

This Wednesday, the Securities and Exchange Commission delivered a Wells notice to Coinbase alleging a violation of securities laws.

A Wells notice usually heralds an SEC enforcement action.

Coinbase’s CEO  Brian Armstrong stated on Twitter that the notice primarily pertains to staking and assets listings.

Coinbase is the largest US-based publicly-traded cryptocurrency exchange.

In February, the SEC settled with another exchange, Kraken, over its staking service.

Also in February, Armstrong hinted that the SEC may be moving to ban cryptocurrency staking in the US.

This article originally appeared on The Tokenist

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