The U.S. Securities and Exchange Commission has specifically targeted several Ethereum-based altcoins on Coinbase before sending today’s Wells Notice to the leading crypto exchange.
Back in June, in its insider trading case against a former Coinbase employee, the SEC called out nine crypto assets that it believes are securities – and six of those assets remain on the exchange today.
The coins in question are Amp (AMP), LCX (LCX), Power Ledger (POWR), Rally (RLY), XYO Network (XYO) and DerivaDAO (DDX).
At the time, Coinbase strongly rejected the claim that the above crypto assets are securities, citing its “rigorous” and “SEC-reviewed” process for determining which assets are listed on the exchange.
Today, the SEC sent a Wells Notice to Coinbase, asserting the agency has made a preliminary determination that recommends the agency file an enforcement action against Coinbase.
Coinbase seet, datt d'Notiz en "ondefinéierten Deel" vu senge opgelëschten digitale Verméigen zielt, souwéi dem Staking Service Coinbase Earn, säin institutionellen Aarm Coinbase Prime, a seng net-depotéiert Coinbase Portemonnaie.
Den Austausch seet datt et d'Méiglechkeet begréisst seng Produkter viru Geriicht ze verteidegen wann et néideg ass, a bemierkt datt et weider wéi gewinnt op alle Fronte funktionnéiert.
The news comes amid a volatile day for Bitcoin and the crypto markets following a fresh quarter point rate hike from the Federal Reserve.
Bitcoin (BTC) is trading at $27,397 at time of publishing, down 2.7% in the last 24 hours.
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Source: https://dailyhodl.com/2023/03/22/6-ethereum-altcoins-targeted-by-sec-ahead-of-coinbase-wells-notice/