Express

Coinbase Received Investigative Subpoenas From SEC Over Crypto Yield, Staking Products

Amy Liu

Summary: Crypto exchange Coinbase Global (COIN) is under investigation by U.S. securities regulators over its token listing processes as well as its staking programs and yield-generating products, the company disclosed in its most recent quarterly report. "The Company has received investigative subpoenas and requests from the [U.S. Securities and Exchange Commission] for documents and information about ...

Crypto exchange Coinbase Global (COIN) is under investigation by U.S. securities regulators over its token listing processes as well as its staking programs and yield-generating products, the company disclosed in its most recent quarterly report.

"The Company has received investigative subpoenas and requests from the [U.S. Securities and Exchange Commission] for documents and information about certain customer programs, operations, and existing and intended future products, including the Company’s processes for listing assets, the classification of certain listed assets, its staking programs, and its stablecoin and yield-generating products," Coinbase said in the 10-Q form.

The disclosure underscores the heat Coinbase faces as a vocal (and closely regulated) U.S. crypto business. Coinbase said in the filing it believes these investigations will not "have a material adverse effect" on Coinbase's financial condition.

By Amy Liu

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Link: Coinbase Received Investigative Subpoenas From SEC Over Crypto Yield, Staking Products   [Copy]
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