“Coinbase, a multi-billion-dollar entity advised by sophisticated legal counsel, argues it was unaware that its conduct risked violating the federal securities laws, and suggests that by approving Coinbase’s registration statement in 2021 the SEC confirmed the legality of Coinbase’s underlying business activities – at that time and for all time,” the SEC stated in its submitting.
Coinbase Knew It May Have Been Violating the Law Prior to the SEC’s Lawsuit, Regulator Claims
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