Coinbase sues SEC and FDIC for clarity on crypto rules [Yahoo! Finance]
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Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The legal challenges, lodged in the U.S. District Court for the District of Columbia, accuse the agencies of overregulation and failing to respond to Freedom of Information Act (FOIA) requests. The exchange's legal action seeks to counter what it views as a concerted effort by the SEC and FDIC to undermine the cryptocurrency sector by restricting access to banking services and withholding information. Coinbase has criticized the SEC for using privacy claims to conceal its regulatory methods, particularly concerning Ethereum's proof-of-stake transition and other crypto entities. The FDIC is similarly under fire for advising banks to halt the expansion of crypto-related services through “pause letters,” a tactic Coinbase likens to the controversial “Operation Choke Point.” Coinbase's dispute with the SEC also includes a previous lawsuit from April 2023, where the exchange demanded a definitive stance on crypto-specific regulations. Despite discussions since July 2022, the SEC
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- Crypto Firms Must Report Info On Trades To IRS Under New Anti-Tax Evasion Rule [Forbes]Forbes
- SEC sues MetaMask developer Consensys as it extends legal crusade against crypto industry [Yahoo! Finance]Yahoo! Finance
- SEC Sues Consensys Over MetaMask Staking, Broker Allegations [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 6/27/24 - Form 4
- 6/20/24 - Form 4
- 6/20/24 - Form 8-K
- COIN's page on the SEC website