Coinbase Faces Regulatory Storm As 10 US States Take Legal Action Against The Crypto Exchange
Portfolio Pulse from Murtuza Merchant
Coinbase Global Inc (NASDAQ:COIN) faces legal proceedings from 10 US states for allegedly violating securities regulations. The states have served a show cause notice, giving Coinbase 28 days to justify why it should not receive a stop-order. This comes after the SEC served Coinbase with a Wells Notice earlier this year.
June 06, 2023 | 5:44 pm
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Coinbase faces legal proceedings from 10 US states for alleged securities violations, which may result in a stop-order. The company's stock value has dropped 17% since the SEC lawsuit.
Coinbase is facing legal proceedings from 10 US states for allegedly violating securities regulations. This adds to the company's ongoing regulatory challenges, which have already resulted in a 17% drop in stock value since the SEC lawsuit. The potential stop-order and increased scrutiny may further negatively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100