Coinbase Reportedly Under Investigation by the SEC

Coinbase leadership, faced with an existential threat, is trying to get ahead of the problem.

"I’m happy to say it again and again: we are confident that our rigorous diligence process — a process the SEC has already reviewed — keeps securities off our platform," Coinbase's chief legal officer Paul GrewalCrypto markets are already feeling the hurt, with the values of mainstream crypto like Bitcoin and EthereumThe skirmish could lead to an ugly, drawn out fight.

— seven of which are listed on Coinbase — as part of the insider trading case against the former Coinbase manager."Coinbase does not list securities," Grewal pushed back in a"The SEC’s charges put a spotlight on an important problem: the US doesn’t have a clear or workable regulatory framework for digital asset securities," Grewal wrote.

Regardless, the investigation is bound to be a major headache for the company. Coinbase's stock has already lost almost three quarters of its value in 2022 so far,But the investigation could also set an important precedent for many other exchanges out there as well. It remains to be seen if the SEC's investigation into Coinbase will end up setting the groundwork for future crypto regulation — but regulators are, nonetheless, sending a clear message: the "

Source: Digital Coin News (digitalcoinnews.net)

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