The SEC sued Coinbase today after Bitcoin exchange Binance.
While claiming that Coinbase violated securities laws in the SEC lawsuit, he stated that "SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH and NEXO" altcoins are also securities.
Following the news of the SEC lawsuit, SEC Chairman Gary Gensler also made a statement on his twitter account.
Citing the SEC's Coinbase litigation, Gensler made the following statements regarding the Coinbase case:
“The alleged failures of Coinbase deprive investors of critical protections, including rules that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine auditing by the SEC.”
The SEC's official page also states, "Today we accused Coinbase of operating the cryptocurrency trading platform as an unregistered national stock exchange, broker, and clearinghouse and failing to record the offering and sale of the crypto-asset staking-as-a-service program." said.
Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC. https://t.co/FwpdmENvoL
— Gary Gensler (@GaryGensler) June 6, 2023
*Not investment advice.
