{"id":19039,"date":"2023-03-22T22:54:25","date_gmt":"2023-03-22T22:54:25","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-receives-a-wells-notice-from-the-u-s-sec\/"},"modified":"2023-03-22T22:54:25","modified_gmt":"2023-03-22T22:54:25","slug":"coinbase-receives-a-wells-notice-from-the-u-s-sec","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-receives-a-wells-notice-from-the-u-s-sec\/","title":{"rendered":"Coinbase receives a Wells notice from the U.S. SEC"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Coinbase-7-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Coinbase-7-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Coinbase-7-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Coinbase-7-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>U.S. SEC issued a Wells notice to Coinbase on Wednesday.<\/li>\n<li>Coinbase chief legal officer Paul Grewal\u2019s remarks in response.<\/li>\n<li>Coinbase stock slipped more than 10% in extended hours.<\/li>\n<\/ul>\n<p>Coinbase Global Inc (NASDAQ: COIN) is trading over 10% down in extended hours after receiving a \u201cWells notice\u201d from the SEC for potentially violating U.S. securities laws.<\/p>\n<h2>Here\u2019s what we know so far<\/h2>\n<p>Remember that such a notice often signals the agency\u2019s intent to formally press charges.<\/p>\n<p>Still, Coinbase says the Wells notice does not provide enough information on potential violations and so it will stick to regular operations for now.<\/p>\n<blockquote>\n<p>The company believes these potential enforcement actions would relate to aspects of the Company\u2019s spot market, staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet.<\/p>\n<\/blockquote>\n<p>Last month, the Securities and Exchange Commission had issued a similar notice to <a href=\"https:\/\/news.bitcoin.com\/paxos-receives-wells-notice-from-sec-nydfs-orders-issuer-to-stop-minting-busd\/\" target=\"_blank\" rel=\"noopener\">Paxos<\/a> (blockchain infrastructure platform) as well.<\/p>\n<h2>Chief legal officer Grewal\u2019s remarks<\/h2>\n<p>The news arrives about a month after Coinbase <a href=\"https:\/\/www.cnbc.com\/2023\/02\/21\/coinbase-coin-earnings-q4-2022.html\" target=\"_blank\" rel=\"noopener\">reported<\/a> its financial results for the fourth quarter that topped Street estimates.<\/p>\n<p>On Wednesday, its Chief Legal Officer Paul Grewal reiterated that the company does not list securities. Speaking with CNBC, he also said:<\/p>\n<blockquote>\n<p>If needed, we welcome a legal process to provide clarity we\u2019ve been advocating for and to demonstrate that SEC simply has not been fair when it comes to its engagement on digital assets.<\/p>\n<\/blockquote>\n<p>Grewal also maintained that <a href=\"https:\/\/www.coinbase.com\/earn\" target=\"_blank\" rel=\"noopener\">Coinbase Earn<\/a> is significantly different from staking services by Kraken that the SEC banned last month. Coinbase stock is still up 100% for the year at writing.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/coinbase-receives-wells-notice-from-sec\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) U.S. SEC issued a Wells notice to Coinbase on Wednesday. Coinbase chief legal officer Paul Grewal\u2019s remarks in response. Coinbase stock slipped more than 10% in extended hours. Coinbase Global Inc (NASDAQ: COIN) is trading over 10% down in extended hours after receiving [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":19040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19039"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=19039"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/19039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/19040"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=19039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=19039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=19039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}