Coinbase Confronts Remaining SEC Investigation as Crypto Regulation Cools Off
Following the dismissal of its lawsuit against the cryptocurrency exchange Coinbase in March, a new investigation by the Securities and Exchange Commission has come to light, as reported by the New York Times. This development is somewhat unexpected, especially considering the Trump administration’s recent trend of reducing regulatory scrutiny on cryptocurrency firms to promote broader adoption.
The SEC’s inquiry into Coinbase arises from allegations concerning the company’s disclosures in securities filings and promotional content related to its verified users. Coinbase asserts it has surpassed 100 million “verified users” from 2021 through 2023, and regulators are probing whether these figures were inaccurately represented.
Paul Grewal, Coinbase’s chief legal officer, expresses that the investigation should cease, but the company is committed to collaborating with the SEC to resolve the issue.
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