The leading crypto exchange in the United States, Coinbase Global (NASDAQ: COIN) recently confronted the US SEC. For the long going tussle between the broader crypto industry and the US regulator, this time, the SEC and Coinbase are facing each other. The securities regulator had sent the crypto exchange a Wells Notice last month, for which the firm replied back.
Coinbase chief executive officer, Brian Armstrong, and chief legal officer, Paul Grewal, reportedly clarified in a public response to the SEC that the company would not be listing the crypto assets as securities amid the regulator uncertainty.
The company stated, in its formal response to the notice from the SEC, in its defense that it had not violated any securities laws.
TheCoinRepublic reported earlier that the SEC sent Wells Notice—a formal notice from an agency to inform an entity of potential regulatory action for misconduct or violation—to Coinbase in March 2023.
According to Reuters, the instance is just an
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