Reported by the economic media Bloomberg, we learn that the US Security Exchange Commission (the American stock market policeman) is opening an investigation against the giant crypto sector, Coinbase. At stake, the supposed status of ” securities » of some of the assets listed on the platform.
Coinbase suspected of trading unregistered securities
It’s the kind of thunderclap that contributes to weighing down a fairly gloomy crypto weather. Maintaining notoriously execrable relations, the Coinbase platform and the SEC have just reached a new milestone. The American stock market policeman has thus just announced that Coinbase was now the subject of extensive investigations into its asset listing practices.
In the background, a recurring subject, the SEC suspecting Coinbase of offering to trade unrecorded titles (the famous ” securities according to US regulatory taxonomy).
It will have escaped no one that this procedure could be one of the consequences of the recent case concerning alleged insider trading committed by a former Coinbase executive. A case in which the status of the assets concerned – 7 of them to be perfectly exact – had already been raised by financial market investigators.
It should be noted that Coinbase seems ready to enter into open conflict with the SEC and to return blow for blow (evidenced by the last post of the blog of the company, in the particularly vindictive tone “Coinbase does not list securities, end of story”).
If the combativeness of this Coinbase appears intact, it does not however manage to compensate for the bad signal sent to the entire crypto sector. A crypto sector which the American regulator now seems to have made a priority. At 4:00 a.m., French time, the market was thus feeling the blow, the entire marketcap experiencing a decline of nearly 6%, Bitcoin losing nearly $1,000 to flirt with $21,000.
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