SEC sues Coinbase in NY federal court for offering unregistered security

The United States Securities and Exchange Commission has filed a lawsuit against New York-based crypto exchange Coinbase for offering unregistered securities.

The SEC lawsuit alleged that Coinbase has never registered as a broker, national securities exchange or clearing agency, evading the disclosure scheme for securities markets. SEC alleged that several tokens offered by the crypto exchange including  

The SEC lawsuit against Coinbase comes just a day after the securities regulator sued Binance for violating securities law and comingling customer’s funds.

This is a developing story, and further information will be added as it becomes available.