Coinbase, which has been sued by the U.S. Securities and Exchange Commission (SEC), has been summoned to the defense by the Alabama state securities regulator.
Alabama Securities Commission (ASC) In a notice issued on June 6, Coinbase had to comply with the securities laws. have violated urged him to defend himself. Notification except Alabama California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington And Wisconsin states signed it.
According to the information provided, ASC offers Coinbase to state residents through the earn program and staking products and securities laws have violated to the stock market disprove called for.
Coinbase itself to explain and not breaking the law prove for 28 days stated time.
ASC also has Coinbase’s approximate nationwide 3.5 million staking accounts federal insurance agency And securities investor protection agency by not insured stated. Organisation, Alabama owned by investors more than 33 thousand against any loss of your account. unprotected it was underlined. In this context, ASC warned investors with the following statements:
ASC encourages investors to contact the institution to confirm whether a staking program is registered before depositing their funds.
Additional $5 million fine from New Jersey
In addition to the state of New Jersey being included in the notification, individual aspect off the record sale of securities to Coinbase 5 million dollars announced the punishment.
Deputy Attorney General Shirley Emehelu He used the following statements on the subject:
The cryptocurrency securities market is not a public market where companies can create their own rules. These companies offer staking services, but they are less likely to take the risks of investing in crypto and through this action we make sure they follow our rules.
US Securities and Exchange Commission (SEC)in a day unregistered brokerage firm on the grounds that it operates as to Coinbase sued.