SEC investigating Coinbase for its Earn product, wallet service and exchange activity
Exchange giant Coinbase was issued a Wells Notice by the Securities and Exchange Commission, notifying the company of investigations into several offerings and continuing a string of regulatory warning shots fired at crypto firms in the U.S. The notice relates to aspects of the company’s exchange, its staking service, Coinbase Earn and Coinbase Wallet, the company wrote in a blog post.
Coinbase added that it will operate products and services as usual. A Wells Notice is a document the regulator issues to entities that are under investigation — it does not necessarily imply a conclusion or foregone action. Coinbase's Chief Legal Officer Paul Grewal said in a statement. "If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets. The blog post states that the company has met with the SEC more than 30 times in the past nine months alone, but it has been unresponsive.
Source
https://t.me/DeFi_Ethereum
