Defendant Name:
Coinbase, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Coinbase Global, Inc.
SIC Code:
9999
CUSIP:
19260Q10
Document Reference:
comp-pr2023-102
Document Details
Legal Case Name
SEC v. Coinbase, Inc. and Coinbase Global, Inc.
Document Name
Complaint
Document Date
06-Jun-2023
Document Format
Civil Proceeding
Case Number
23-cv-04738
Federal District Court
New York, Southern District of New York
Allegation Type
Other
Document Summary
The SEC stated: "Since at least 2019, through the Coinbase Platform, Coinbase has operated as: an unregistered broker, including by soliciting potential investors, handling customer funds and assets, and charging transaction-based fees; an unregistered exchange, including by providing a market place that, among other things, brings together orders of multiple buyers and sellers of crypto assets and matches and executes those orders; and an unregistered clearing agency, including by holding its customers' assets in Coinbase-controlled wallets and settling its customers' transactions by debiting and crediting the relevant accounts. By collapsing these functions into a single platform and failing to register with the SEC as to any of the three functions, and not having qualified for any applicable exemptions from registration, Coinbase has for years defied the regulatory structures and evaded the disclosure requirements that Congress and the SEC have constructed for the protection of the national securities markets and investors."
Other Defendants in Action:
