Coinbase Rulemaking Request Still Under SEC Scrutiny, No Resolution In Sight
Portfolio Pulse from Murtuza Merchant
The SEC has not yet reached a resolution on Coinbase Global Inc's (NASDAQ:COIN) request for rulemaking. The statement comes amid the SEC's enforcement actions against the cryptocurrency exchange, including a lawsuit alleging that Coinbase was functioning as an unregistered securities exchange, broker, and clearing agency. The SEC expects a possible recommendation within the next 120 days.
June 14, 2023 | 2:22 pm
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NEGATIVE IMPACT
Coinbase's request for rulemaking is still under SEC scrutiny with no resolution in sight. The ongoing enforcement actions and lawsuit against the company may negatively impact its stock price.
The SEC's ongoing enforcement actions and lawsuit against Coinbase, along with the uncertainty surrounding its rulemaking request, create a negative sentiment around the company. This may lead to a decrease in investor confidence and a potential short-term decline in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100