SEC vs Coinbase
The Crux of the Matter:
Coinbase's cute argument that SEC should've known is not a great defense strategy says a former SEC Chairman. Coinbase, COIN, says if its operations were illegal why then the SEC didn't STOP The IPO? Coinbase Listed on NASDAQ reached an astronomical valuation of $85 Billion and still worth more than many regional banks.
SEC says that Coinbase has facilitated the listing and trading of Coins that meet the definition of a security, therefore, Coinbase should abide by the same rules as other Exchanges like NASDAQ and NYSE, and offer investors protection.
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