SEC Waves White Flag against Coinbase
The US Securities and Exchange Commission has consented to drop its case against Coinbase, a centralized exchange claimed was acting as an unlicensed securities broker.
Coinbase announced before the lawsuit is formally dismissed, the dismissal is still pending approval by an SEC commissioner.
| Broker | Review | Regulators | Min Deposit | Website | |
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker >> |
| 🥈 |  | Read Review | FMA, FSA | USD 50 | Visit Broker >> |
| 🥉 |  | Read Review | FSCA, CySEC, DFSA, FSA, CMA | USD 0 | Visit Broker >> |
| 4 |  | Read Review | SFSA, FSCA, CySec* | USD 5 | Visit Broker >> |
| 5 | Visit Broker >> | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker >> |
| 6 |  | Read Review | FCA, FINMA, FSA, ASIC | USD 0 | Visit Broker >> |
| 7 |  | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker >> |
| 8 |  | Read Review | Not Regulated | 0.001 BTC | Visit Broker >> |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker >> |
| 10 |  | Read Review | SVGFSA | USD 5 | Visit Broker >> |
Coinbase CEO Brian Armstrong said:
“If this goes through, it’s a big deal, not just for us, but for the whole crypto industry, the 50 million Americans who hold crypto, and I think for the rest of the world because this is an important signal about where things are going.”
The SEC, under the leadership of former Chair Gary Gensler, claimed that Coinbase had failed to register its staking services with the financial watchdog.
The SEC filed a lawsuit against Coinbase in 2023, labeling certain cryptocurrencies “unregistered securities.”
The “staking” feature on the platform, which enables users to earn incentives by blocking their assets to confirm transactions on a blockchain, was also the subject of the complaint.
The cryptocurrency industry supports Coinbase’s assertion that cryptocurrencies do not meet the criteria for an investment contract, in contrast to stocks and bonds.
The Nasdaq listed exchange criticized the SEC for taking the decision, claiming it was a regulatory overreach after approving the company’s public listing on US stock exchanges in 2021.
The business started a political pressure campaign alongside Ripple that advocates for industry-friendly legislation with the U.S. government.
ABOUT THE AUTHOR
See More
Add 3442
Related Posts
Add 3440
🏆 7 Best Forex Brokers
| Broker | Website | |
|---|---|---|
| 🥇 |  | Visit Broker |
| 🥈 |  | Visit Broker |
| 🥉 |  | Visit Broker |
| 4 |  | Visit Broker |
| 5 |  | Visit Broker |
| 6 |  | Visit Broker |
| 7 |  | Visit Broker |
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top 4 Brokers
