- SEC plans to sue Coinbase for violating investor-protection laws.
- Coinbase has criticized the SEC and urged regulators to write new crypto rules.
- A lawsuit could potentially lead to Coinbase being ordered to restructure its business or shutter down.
- Coinbase has spent millions on proposals to register parts of its business with SEC.
- SEC penalties could threaten Coinbase's ability to operate in its current form.
WSJ — Markets — Crypto Regulation — Currencies — Cryptocurrency — Legal
Crypto Faces Legal Reckoning as SEC Prepares Action Against Coinbase
SEC plans to sue Coinbase for violating investor-protection laws in a legal showdown that could reshape the crypto industry in the US. Coinbase faces potential SEC penalties that could threaten its ability to operate in its current form.