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Coinbase is once again in the spotlight for all the wrong reasons as a new class action lawsuit from investors alleged that the crypto exchange "knowingly" operated an unregistered business.
The Securities and Exchange Commission denied cryptocurrency giant Coinbase’s petition for new crypto rules, with the two Republican commissioners dissenting.
Thursday's ruling that Ripple Labs Inc did not violate securities law by selling its XRP token on exchanges was the first major setback for the SEC in a decade of enforcement against the cryptocurrency industry.
The SECs aggressive stance against cryptocurrency industry has ratcheted up criticism. The latest crypto firms caught in the crosshairs include two of the largest Binance and Coinbase.
The Chamber of Commerce criticized the financial regulator for its "continued refusal" to address Coinbase's request for more clarity about crypto assets.