If it walks like a dog and barks like a dog, perhaps it’s actually a digital asset security

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Coinbase, the U.S.-based cryptocurrency exchange that is the third-largest globally, is “facing a U.S. probe into whether it improperly let Americans trade digital assets that should have been registered as securities,” according to a Bloomberg report. The news follows a move by the U.S. Department of Justice last week to arrest and charge a former Coinbase employee and two others with wire fraud and wire fraud conspiracy, alleging they had front-run listings on the crypto exchange.

The U.S. Securities and Exchange Commission then separately filed securities charges against the ex-Coinbase employee for securities fraud based on its view that nine digital assets involved in the incident were securities, seven of which are listed on Coinbase, according to a blog post from Coinbase’s chief legal officer, Paul Grewal. Today’s Bloomberg report confirms that the broader SEC investigation into whether Coinbase let Americans trade securities had already been underway before the agency filed charges against the ex-employee.

      



Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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