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Why the SEC Could Go After Coinbase Even After Approving Its IPO

Published 04/28/2023, 11:00 AM
© Reuters Why the SEC Could Go After Coinbase Even After Approving Its IPO
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  • The SEC shocked the crypto community by revealing intentions to go after Coinbase (NASDAQ:COIN).

  • The regulator had approved Coinbase's IPO two years prior.

  • A recently unearthed letter explains why the potential enforcement is possible despite the IPO approval.
The United States Securities and Exchange Commission has ramped up its crypto enforcement actions in 2023 despite complaints over a lack of clear rules. One of the firms to land on the regulator's naughty list is Coinbase, the largest U.S. crypto exchange by 24-hour trading volume.

In March, Coinbase confirmed the receipt of a Wells notice over several aspects of its business, including its asset listing, much to the surprise of many in the crypto space. One of the primary reasons for this surprise was that the SEC had approved Coinbase's initial...

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