After Binance, SEC Accuses Coinbase Of 'Acting As Unregistered Broker' In Lawsuit
Portfolio Pulse from Murtuza Merchant
The SEC has sued Coinbase Global Inc. (NASDAQ:COIN) for allegedly acting as an unregistered broker since 2019, making billions of dollars unlawfully. Coinbase shares tumbled 16.41% in premarket trading. The SEC also criticized Coinbase's staking-as-a-service program for not registering as required by law.
June 06, 2023 | 12:49 pm
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Coinbase shares tumbled 16.41% in premarket trading after the SEC sued the company for allegedly acting as an unregistered broker and making billions of dollars unlawfully.
The SEC's lawsuit against Coinbase for allegedly acting as an unregistered broker and making billions of dollars unlawfully is a significant negative development for the company. This legal action could lead to fines, penalties, and reputational damage, which would likely have a negative impact on Coinbase's stock price in the short term.
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