Discussing this with Commission staff, the company believes these potential enforcement actions could relate to “the company’s spot market, staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet.” At the same time, according to them, they may face injunctions, compensation and fines against certain activities. The company said that stock offerings will continue to operate as usual until any legal action is resolved.
Coinbase described the investigation as “illegal” and said the notice contained relatively little information about potential breaches. “We are very confident in the way we run our business.”Coinbase Chief Legal Officer Paul Grewal said in a blog post.
Source: Ferra
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