The United States Securities and Exchanges Commission (SEC) has been actively involved in the crypto market for the past few weeks. The commission that laid securities law violations against Justin Sun has also made a move against the leading American crypto exchange – Coinbase. Notably, the commission sent a Wells Notice to the crypto exchange on March 22, 2023, as per an SEC filing. Moreover, the notice is related to securities violations, with the filing stating,
“the Staff has advised the Company that it made a “preliminary determination” to recommend that the SEC file an enforcement action against the Company alleging violations of the federal securities laws, including the Securities Exchange Act of 1934,”
The story is still developing.
Source: https://ambcrypto.com/coinbase-received-wells-notice-from-sec-relating-securities-law-violations/