SEC Alleges Coinbase Violated Security Laws, Delivers Wells Notice

The SEC has delivered a Wells notice to Coinbase alleging a violation of securities laws.

By 247patrick

Published March 23, 2023, 3:43am ET · 1 min read

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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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