The US exchange regulator has begun to look into the service structure of Coinbase. About this exchange reported in the quarterly report to investors.
The U.S. Securities and Exchange Commission (SEC) has reportedly requested information from Coinbase about certain client programs, transactions, and existing and future products.
The SEC also asked Coinbase for details on how exactly the exchange decides which asset to list and by what method it classifies them. In addition, the regulator demanded information about services related to staking and earning on deposits in stablecoins. Coinbase stated that they could not predict the consequences of such requests from the SEC.
However, the exchange did warn that “in light of the uncertainties” surrounding crypto regulation, the potential damage to Coinbase could be “substantial.”
Previously, as figured out Bloomberg publication, the SEC organized an investigation into the actions of the Coinbase crypto exchange on the listing of tokens. According to the publication, the reason for launching the investigation was the suspicions of the SEC that Coinbase opened access to US users to transactions with cryptocurrencies that can be classified as securities.
Coinbase does not believe that they violated the laws, since, according to the site, the exchange regulator has already tested its methods for listing. At the same time, the SEC identified at least several tokens in the Coinbase listing, which, according to the regulator, are classified as securities.
The American division of Binance has already responded to the SEC statements by delisting the token that appears in the regulator’s investigation. Coinbase refused to remove the token from the listing.
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