{"id":1945049,"date":"2023-06-06T09:24:02","date_gmt":"2023-06-06T13:24:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-sues-major-crypto-exchange-coinbase\/"},"modified":"2023-06-06T09:25:36","modified_gmt":"2023-06-06T13:25:36","slug":"sec-sues-major-crypto-exchange-coinbase","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-sues-major-crypto-exchange-coinbase\/","title":{"rendered":"Coinbase faces lawsuit from SEC over crypto trading."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsec-sues-major-crypto-exchange-coinbase%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1945049&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>SEC Files Lawsuit Against Coinbase for Allegedly Operating as an Unregistered Securities Exchange<\/h2>\n<blockquote><p>The Securities and Exchange Commission has filed a lawsuit against Coinbase, alleging the company was working as an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-crypto-exchange-bittrex-seeks-bankruptcy-after-sec-complaint\/\" title=\"Bittrex, a US crypto exchange, seeks bankruptcy following an SEC complaint.\">unregistered securities exchange<\/a>.<\/p><\/blockquote>\n<h3>What Happened?<\/h3>\n<p>The SEC lawsuit was filed Tuesday in the U.S. District Court for the Southern District of New York and claimed the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-sues-major-crypto-exchange-coinbase\/\" title=\"Coinbase faces lawsuit from SEC over crypto trading.\">crypto asset trading platform acted<\/a> as an unregistered federal securities exchange, broker, and clearing agency. The SEC said it should be \u201cpermanently restrained and enjoined\u201d from doing so.<\/p>\n<p>According to the SEC, Coinbase failed to register with the agency before allowing customers to trade digital assets that the SEC considers securities. The lawsuit also alleges that Coinbase&#8217;s lending product, which allows customers to earn interest on certain digital assets, is a security and therefore subject to SEC regulation.<\/p>\n<h3>What Does This Mean?<\/h3>\n<p>The SEC&#8217;s lawsuit against Coinbase could have significant implications for the cryptocurrency industry as a whole. If the court rules in favor of the SEC, it could set a precedent for other crypto asset trading platforms to register with the agency or <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-equality-act-is-the-greatest-threat-to-religious-freedom-in-our-lifetime-we-must-stand-against-it\/\" title=\"The \u2018Equality Act\u2019 Is The Greatest Threat To Religious Freedom In Our Lifetime. We Must Stand Against It.\">face legal action<\/a>.<\/p>\n<p>\u201cYou simply can\u2019t ignore the rules because you don\u2019t like them or because you\u2019d prefer different ones: The consequences for the investing public are far too great,\u201d said Gurbir Grewal, director of the SEC\u2019s Division of Enforcement.<\/p>\n<h3>Stay Tuned for Updates<\/h3>\n<p>This story is breaking and will be updated as more information becomes available. In the meantime, investors and traders in the cryptocurrency space should pay close attention to developments in this case.<\/p>\n<p><strong>Click here to read more from the Washington Examiner.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC has sued Coinbase for allegedly operating as an unregistered securities exchange, broker, and dealer. The lawsuit was filed in the US District Court for the Southern District of New York on Tuesday.<\/p>\n","protected":false},"author":1,"featured_media":1945050,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[13591,6987,4585,3855],"class_list":["post-1945049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-coinbase","tag-crypto","tag-lawsuit","tag-trading"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1945049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1945049"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1945049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1945050"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1945049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1945049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1945049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}