The Strategist

Coinbase receives notice of impending prosecution

03/23/2023 - 02:57

The US Securities and Exchange Commission (SEC) has informed US cryptocurrency exchange Coinbase of upcoming accusations against the business, according to a statement the exchange made public.
The statement reads: "The SEC today issued a Wells notice regarding an unspecified part of our traded digital assets, Coinbase Earn service, Coinbase Prime and Coinbase Wallet."

The cryptoexchange notes that it is disappointed by the US regulator's decision, confident in the legality of its assets and services, and is prepared to take legal action to show that the SEC's actions are unfair or without merit.

Wells notice is a formal notification to the SEC that the regulator is preparing to take enforcement action or bring charges of violating securities laws.