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The U.S. Securities and Exchange Commission (SEC) has sent Coinbase a “Wells notice” about potential violations of securities law. The Nasdaq-listed cryptocurrency exchange noted that, unlike what SEC Chairman Gary Gensler said, the securities regulator “will not let crypto companies ‘come in and register.'” Coinbase CEO Brian Armstrong explained: “A
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“If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets," said Paul Grewal, Coinbase's chief legal officer, in a statement. "Until then,
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Crypto exchange Coinbase said it received a 'Wells Notice' from the United States Securities and Exchange Commission recommending the regulator take enforcement action.In a March 22 blog post, Coinbase said the “legal threat” could potentially target the exchange’s staking program Coinbase Earn, listed digital assets, its wallet, or Coinbase Prime
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Cathie Wood’s investment management firm ARK Invest is moving to take profits from its Coinbase stash, selling the first batch of Coinbase stock this year.On March 21, ARK sold 160,887 Coinbase shares from its ARK Fintech Innovation exchange-traded fund (ARKF) for $13.5 million, according to an investor notification seen by
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Before this sale, ARK Invest owned 9.9 million shares of the crypto exchange worth $575 million. Source
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Coinbase is expanding its services in Brazil through partnerships with local services, the company announced March 21. Round-the-clock customer support in Portuguese and easier onboarding are among its upgrades.Coinbase has inked deals with Brazilian payment solutions provider Ebanx and Pix, the instant payment app operated by the Central Bank of Brazil.
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In Tuesday’s case, Coinbase Inc. v. Bielski, customer Abraham Bielski had initially accused Coinbase of lax protections when a scammer stole $31,000 from his account. A court found that he could go ahead and pursue that complaint in the courts, which Coinbase appealed. When the matter kept moving in court,
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United States-based crypto exchange Coinbase decided to communicate proactively on the topic of crypto staking, which had recently gained regulators’ attention. In its petition to the Securities and Exchange Commission (SEC), the company explains why staking can’t be universally labeled as securities.The Petition for Rulemaking was published by Coinbase on
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More than a week after New York regulators closed the crypto-friendly Signature Bank, Coinbase has reportedly stopped support for the institution’s Signet payment platform.According to a March 20 report from the Wall Street Journal, Coinbase users won’t be able to use Signet to send funds outside of banking hours until
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More people now appreciate the fundamental value proposition of having an alternative to the traditional financial system, the report said. Source
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