Coinbase’s share price dropped as much as 17% following a lawsuit today by the U.S. Securities and Exchange Commission, which says the company operated its crypto exchange “as an unregistered national securities exchange, broker, and clearing agency”—and that it illegally failed to register its staking-as-a-service program.
Coming just a day after the agency charged Binance for operating an unregistered exchange and sneaking past trading controls, this is definitely a full-frontal assault on some of the biggest names in the crypto sector.
