Shulou(Shulou.com)11/24 Report--

On the evening of June 6, Beijing time, the Securities and Exchange Commission (SEC) today sued Coinbase, the digital cryptocurrency exchange, in federal court in New York, accusing Coinbase of violating US securities laws for many years.

SEC said that as the largest digital cryptocurrency platform in the United States, Coinbase has long allowed users to trade a large number of digital encrypted tokens (crypto token), which are actually unregistered securities, in violation of US securities law.

A spokesman for Coinbase could not be reached for comment.

It was reported in July last year that Coinbase was under investigation by SEC because Coinbase added more than 100 additional digital encrypted tokens to its platform, including Dogecoin. According to SEC, these are unregistered securities. Therefore, Coinbase's actions violate the relevant provisions of the securities law of the United States.

In March, Coinbase said it had received a warning from SEC that law enforcement action might be imminent. Coinbase CEO Brian Armstrong (Brian Armstrong) said at the time that SEC was welcome to take enforcement action against Coinbase because it was a good opportunity to go to court. At the same time, the move could also expose SEC's lack of regulation of digital cryptocurrencies.

Today, SEC also accused Coinbase of violating SEC's "Staking" service. The service essentially allows network participants to maintain the network and receive token rewards by storing their tokens, thus passively earning some form of interest.

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