by Zachary Halaschak at Washington Examiner
The Securities and Exchange Commission has filed a lawsuit against Coinbase, alleging the company was working as an unregistered securities exchange.
The SEC lawsuit was filed Tuesday in the U.S. District Court for the Southern District of New York and claimed the crypto asset trading platform acted as an unregistered federal securities exchange, broker, and clearing agency. The SEC said it should be “permanently restrained and enjoined” from doing so.
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“You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: The consequences for the investing public are far too great,” said Gurbir Grewal, director of the SEC’s Division of Enforcement.
The news comes a day after the SEC went after Binance, the largest cryptocurrency exchange in the world.
On Monday,…
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