Crypto exchange Coinbase COIN said Wednesday that it received a Wells notice from the Securities and Exchange Commission, which could lead to formal charges.
Still, bitcoin BTCUSD prices look to be holding up well. The crypto is trading above $28,000 Thursday after slipping Wednesday, as the Federal Reserve raised its key interest rate by a quarter of a percentage point, as widely expected, while the Fed chairman Jerome Powell said it’s “the most likely case” that the central bank would refrain from cutting its key interest rate this year.
Still, if the SEC ends up bringing up enforcement actions against Coinbase and the exchange chooses litigation, it might push for more clarity in crypto regulation, said Alex Thorn, head of research at Galaxy Digital. “The SEC will have to make strong cases for them in court,” Thorn said.
In February, the SEC charged Kraken for failing to register its staking program. The exchange ended the program in the U.S. and paid $30 million in penalties to settle the charges, without admitting or denying the allegations.
liorimbault
JonChevreau Here’s hoping this Ponzi scheme is over
Who cares about “crypto” ? bitcoin is the only thing that ever mattered
We can only hope.