SEC sues Coinbase, alleging securities law violations

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SEC sues Coinbase, alleging securities law violations
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The lawsuit was filed in the U.S. District Court for the Southern District of New York.

The mobile phone icon for the Coinbase app is shown in this photo, in New York, April 13, 2021. | Richard Drew/AP PhotoThe SEC on Tuesday sued Coinbase, the largest crypto trading platform in the U.S., setting up a head-on battle that could be a pivotal moment for the future of the $1 trillion digital asset market.

A day after filing more than a dozen charges against Binance, the world’s largest cryptocurrency exchange, the SEC alleged that Coinbase has been illegally running a national securities exchange, broker and clearing agency, among other charges. “You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones,” SEC Enforcement Director Gurbir Grewal said in a statement. “The consequences for the investing public are far too great.”

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