Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased.
In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.
Crypto trading platform Coinbase Global Inc is facing a US Securities and Exchange Commission (SEC) investigation on if it improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on 26 July.
According to details, the SEC's is looking into an alleged insider trading scheme that was revealed last week.
Earlier last week, US prosecutors in Manhattan charged a former product manager at Coinbase and two others with wire fraud in thefirst insider trading case involving cryptocurrency, added the report.
Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased
The SEC on 21 July had alleged that the that cryptocurrency exchange Coinbase listed nine crypto asset securities. In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.
Meanwhile, Coinbase had disputed the SEC’s allegations. "Coinbase does not list securities on its platform. End of story,"Bitcoin.com quoted Coinbase's chief legal officer Paul Grewal as saying.
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