cryptonews: Coinbase has received a Wells notice from the U.S. Securities and Exchange Commission — indicating that enforcement action could follow. 🧐
Coinbase has received a Wells notice from the U.S. Securities and Exchange Commission — indicating that enforcement action could follow.
He argued that Coinbase is incredibly selective when it comes to the cryptocurrencies it lists — rejecting more than 90% of applications. That post described the Wells notice as a "disappointing development" — but stressed that Coinbase's products and services are continuing to operate as normal."The SEC staff told us they have identified potential violations of securities law, but little more. We asked the SEC specifically to identify which assets on our platforms they believe may be securities, and they declined to do so.
He revealed that the exchange had spent millions of dollars in order to propose two potential ways that a crypto firm could register with the SEC, but didn't get any feedback. While SEC chair Gary Gensler has suggested that Bitcoin may be the only commodity in the cryptoassets space, CFTC chair Rostin Behnam has argued that Ethereum should be classified as one too.
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