, alleging that the crypto exchange broke securities laws by operating as an unregistered broker, exchange, and clearing agency. It also accused the company of selling unregistered securities through its staking-as-a-service program, which rewards users with crypto by participating in the proof-of-stake process on the blockchain.
However, Coinbase rejects the SEC’s arguments, claiming that the case “falls outside the agency’s delegated authority” because the platform doesn’t actually offer securities.
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