SEC's Legal Move Against Coinbase Over Securities Issue

SEC's Case Proceeds: Most of the SEC's case against Coinbase is set to proceed, with a minor win for Coinbase regarding their Wallet product.

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Unregistered Services: The SEC alleges that Coinbase has been operating as an unregistered securities exchange, broker, and clearing agency since at least 2019.

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Staking Program Issues: Coinbase is charged with engaging in an unregistered securities offering through its staking-as-a-service program.

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Investor Protections: The SEC claims Coinbase's failure to register deprived investors of significant protections, including SEC inspection.

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Legal Strategy: Coinbase has taken a combative legal approach, suing the SEC over its refusal to issue crypto-specific regulations.

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