SEC sues Coinbase for breaking US securities rules
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The United States Securities and Exchange Commission (SEC) has filed a lawsuit against New York-based crypto exchange Coinbase (NASDAQ:COIN) for offering unregistered securities.
The SEC lawsuit alleges that Coinbase has never registered as a broker, national securities exchange or clearing agency, evading the disclosure scheme for securities markets. The SEC alleges that several tokens offered by the crypto exchange, including Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), The Sandbox (SAND), Axie Infinity (AXS), Chiliz (CHZ), Flow (FLOW), Internet Computer (ICP), Near (NEAR), Voyager Token (VGX), Dash (DASH) and Nexo (NEXO) qualify as securities.
