SEC asked Coinbase to halt trading for everything except Bitcoin (FT)

Re:SEC asked Coinbase to halt trading for everything except ... by max_ on Monday July 31, 2023 @01:54AM (#36939241)

>The SEC said its enforcement division did not make formal requests for “companies to delist crypto assets”.

So Coinbase didn't comply, as they had no legal obligation.

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Re:SEC asked Coinbase to halt trading for everything except ... by pavlov on Monday July 31, 2023 @03:56AM (#36939853)

And now they’ve been sued by the SEC. Sounds like the process is working as intended. If you don’t want to heed the SEC’s informal advice, the question can be eventually sorted out by the court.

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Re:SEC asked Coinbase to halt trading for everything except ... by mattdesl on Monday July 31, 2023 @04:22AM (#36940003)

The SEC suit is for Coinbase’s staking-as-a-service, not all their trading activity.

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Re:SEC asked Coinbase to halt trading for everything except ... by pavlov on Monday July 31, 2023 @04:55AM (#36940176)

No, the latest SEC lawsuit against Coinbase is for running an unregistered securities exchange, broker and clearing house:

https://www.forbes.com/sites/emilymason/2023/06/06/coinbase-...

This is the very heart of Coinbase’s operations. If they’re found to be a securities exchange, they won’t be allowed to mingle the broker and clearing house functions, and the company would have to be split.

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Re:SEC asked Coinbase to halt trading for everything except ... by mattdesl on Monday July 31, 2023 @05:42AM (#36940412)

Thanks for the correction.

No such thing as safe CEX under the SEC, I guess. I do wonder what they imagine a legally-registered CEX would look like... only accredited investors can purchase and transfer crypto? Or, if it were up to Gensler, Coinbase would only sell Bitcoin?

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