United States cryptocurrency exchange Coinbase (NASDAQ:COIN) is gearing up for a lengthy legal battle with the Securities and Exchange Commission (SEC) after the regulator warned the company of potential securities law violations, CEO Brian Armstrong told CNBC in an interview on April 18.
Coinbase received a Wells notice from the SEC on March 22, indicating a possible enforcement action. The notice is usually the final step before the regulator files charges. In response, Armstrong expressed disappointment and revealed that the company had not received any clear details from the SEC about the alleged violations. He told CNBC: