Why did the SEC charge Coinbase?

The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service program.

Is the SEC cracking down on Coinbase?

CNN’s Matt Egan contributed reporting. The US Securities and Exchange Commission, Wall Street’s top regulator, sued Coinbase, America’s largest crypto exchange, on Tuesday. The SEC is cracking down on some of the biggest names in cryptocurrency over alleged security violations.

Is Coinbase a Securities Exchange?

As with Binance on Monday, the SEC complained that Coinbase had failed to register as a securities exchange, broker and clearing house as required by law, and it also alleged that at least 13 of the roughly 254 cryptocurrencies available on Coinbase are securities.