Frankfurt It is the second lawsuit within 24 hours: The US Securities and Exchange Commission is suing the world’s largest crypto exchange Binance with Coinbase, the largest US trading platform. On Tuesday, the agency filed a lawsuit in federal court in New York.
On 101 pages, she accuses Coinbase, among other things, of operating an illegal US securities trading exchange and also performing certain other financial services without the necessary license. This deprives Coinbase investors of important protection against fraud and manipulation, SEC boss Gary Gensler wrote on the short message service Twitter on Tuesday.
The company initially did not comment. The crypto exchange’s share price collapsed by as much as 20 percent on Wall Street on Tuesday.
The investigations against Coinbase have been going on for months. At the end of March, the SEC informed Coinbase of investigations into the crypto platform with a “Wells Notice”. Such letters signal that SEC employees want to recommend steps against the company concerned.
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