SEC sends Wells notice to Coinbase over some crypto products

Coinbase will likely fight a court battle against SEC after the issuance of the notice.

Coinbase Global Inc. the U.S based crypto exchange has issued a statement that it has received a notice from the U.S securities and exchange commission warning that the company can face a possible lawsuit over some of its crypto products.

SEC is targeting Coinbase on the grounds of allowing securities to be traded illegally on the platform.

It also targets certain products promoted by the Coinbase exchange including the Coinbase spot market, Coinbase Earn, Coinbase Prime and Coinbase wallet.

The strangest part of the notice was that the SEC wouldn’t give specific names of the assets it deemed as securities. Here are the details shared by Coinbase’s Legal officer in a Twitter thread –

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