Just one day after levying charges against the world’s largest cryptocurrency exchange, the Securities and Exchange Commission filed suit against cryptocurrency giant Coinbase.
it has charged Coinbase with operating its crypto trading platform as an unregistered broker and for failing to register the offer and sale of its staking-as-a-service program, which allows investors to earn returns through the firm's work in verifying and securing transactions on the blockchain., filed in U.S.
Coinbase shares cratered more than 15% in pre-market trading to less than $49 immediately after the suit was unveiled. In a statement, SEC Chair Gary Gensler said Coinbase's alleged failures"deprive investors of critical protections" that help prevent fraud and manipulation.13 charges against Binance, the world's largest crypto exchange. In its complaint, the agency alleged the company has shown “blatant disregard of the federal securities laws” and that Binance and Changpeng Zhao, its CEO, have “enriched themselves by billions of U.S.
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