SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency. Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program.
https://www.sec.gov/litigation/complaints/2023/comp-pr2023-102.pdf
Press Release:
The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the offer and sale