The SEC Finally Picks a Fight With Someone Who Can Fight Back
The Breakdown
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The SEC's Warning to Coinbase
Coinbase has received a Wells Notice from the SEC, warning that they may be in violation of securities laws. They have been publicly critical of the SEC for their lack of willingness to productively engage when they've tried to seek clarification. One individual familiar with the situation told CoinDesk that Coinbase had engaged in over 60 different discussions with the SEC on topics ranging from registration and listing of digital assets to appropriate market structure.
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