Coinbase receives SEC Wells Notice over crypto spot market, staking, and wallet services

Coinbase Global, Inc.

SEC Staff made preliminary determination to recommend enforcement action against Coinbase for alleged securities law violations.
Potential action relates to spot market, Coinbase Earn (staking), Coinbase Prime, and Coinbase Wallet.
Possible civil remedies include injunctive relief, disgorgement, and civil penalties.
Company disclosed the Wells Notice on March 22, 2023 via blog and Twitter.

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