US crypto exchange Coinbase has been sued by the US Securities and Exchange Commission, alleging that it has acted as an unregistered exchange and broker.
In the lawsuit, the SEC alleged that the crypto business broke securities law by failing to register with the agency before operating in the US. Following the release of the lawsuit yesterday (6 June), Coinbase's stock fell 19.5%, before recovering to having dropped 12.1% throughout the day, according to MarketWatch data. Binance sued by SEC over 'variety of securities law violations' Coinbase handled $830bn in trades last year, with nearly nine million users making at least one trade per month. It made its initial public offering in April 2021 and currently holds over $130bn in as...
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