- Coinbase responded to the SEC’s Wells notice.
- The exchange will continue to ask the SEC for regulation clarity.
The crypto exchange Coinbase responded to the SEC’s Wells notice. Coinbase provided written and video submissions to the SEC and discussed those submissions with the SEC a few days ago.
Today, to provide greater transparency in our long-standing engagement with the SEC, we are sharing our response to the Wells notice we received last month. https://t.co/aquuWmxmRM
— Coinbase 🛡️ (@coinbase) April 27, 2023
Last month, Coinbase shared that they received a vague and board wells notice from the SEC. On Monday, the exchange filed a lawsuit against the Securities and Exchange Commission, asking the court to order the organization to respond to its request for more clarification around the cryptocurrency law. Today, they shared their response to the SEC.
Coinbase stated that they were the same exchange when the SEC allowed them to become public two years ago. The decision by the SEC comes after a strong discussion with the exchange about every aspect of the business. And now that is the subject of the Wells notice.
Coinbase also mentioned that the exchange didn’t list securities then, now, or in the future. But the SEC has still not complied with the law by providing the exchange with a way to register to be able to do that. Moreover, it will continue to ask Congress for legislation and the SEC for regulation clarity.