{"id":524196,"date":"2023-03-23T05:47:35","date_gmt":"2023-03-23T05:47:35","guid":{"rendered":"https:\/\/www.wncen.com\/?p=524196"},"modified":"2023-03-23T05:47:35","modified_gmt":"2023-03-23T05:47:35","slug":"sec-hands-coinbase-a-wells-notice-coinbase-rebukes","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/sec-hands-coinbase-a-wells-notice-coinbase-rebukes\/","title":{"rendered":"SEC Hands Coinbase A \u2018Wells Notice;\u2019 Coinbase Rebukes"},"content":{"rendered":"
Flagship cryptocurrency exchange Coinbase has stood the test of time through bear and bull markets alike. Like it or not, Coinbase lives on a short list of exchanges that have been around for over a decade.<\/p>\n
This week, the exchange revealed that they have been issued a ‘Wells notice’ from the SEC, a signal of growing action from the U.S. enforcement bureau that continues to show hesitancy in adapting crypto-friendly policies. Historically, Wells notices typically serve as a concluding pillar in an SEC investigation, and often signal incoming enforcement.<\/p>\n
The notice was made public by Coinbase through a blog post<\/a> published on Wednesday, amplified through a tweet thread<\/a> from the exchange’s Chief Legal Officer, Paul Grewal. The blog post notes that the SEC is focused on a few of the exchange’s primary product offerings, including staking service Earn, institutional arm Prime, and the exchange’s consumer-facing Wallet product.<\/p>\n The firm goes on to explain that they are “prepared for this disappointing development,” despite seemingly uncertain roads ahead. Nonetheless, Coinbase emphasizes that product offerings are unchanged, and doubles down on a sentiment that has been often echoed by many exchanges: “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.”<\/p>\n <\/p>\nCoinbase (NASDAQ:COIN) states that they have met with the SEC nearly three dozen times over the past year. | Source: NASDAQ:COIN on TradingView.com<\/a><\/pre>\n