Coinbase Receives a 'Dreaded' Wells Notice

Written by:
Aaron Goldstein
Published on:

On Thursay, Coinbase received a Wells notice from the SEC focused on staking and asset listings. A Wells notice often precedes an enforcement action.  More specifically, the Wells notice is issued by regulators to inform individuals or companies of completed investigations where infractions have been discovered.

"We asked the SEC for reasonable crypto rules for Americans. We got legal threats instead," Coinbase claims.

The crypto exchange issued a statement on Wednesday afternoon:

"We are prepared for this disappointing outcome. We are confident in the legality of our assets and services, and if needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets.

"While we understand that this is all part of the journey to reforming our financial system, we are right on the law, confident in the facts, and welcome the opportunity for Coinbase (and by extension the broader crypto community) to get before a court."

CoinGeek founder Calvin Ayre has not been kind to Coinbase over the years, and Wednesday was no exception.  Ayre retweeted a concern over questionable tokens appearing for trading on the Coinbase site.

The Bitcoin Masterclasses Series 3 with Craig Wright: Yes, Human Accountants Are Still Needed

Blockchain can record all information for future reference, but does that guarantee the information is true? No, it isn’t. Suppose you want the world to rely on one universal ledger of truth and use it for vital operations like supply chains, logistics, and accounting, how do you ensure the data on that ledger is actually valid? That’s the opening introduction from Dr. Craig S. Wright in the third and latest edition of The Bitcoin Masterclasses series, held this week in Zurich.

- Aaron Goldstein,

Video News News

CFP Championship Game Betting Preview 2024

America loves an underdog story, but the majority of the United States is rooting against the “dogs” (Washington Huskies) in Monday’s CFP National Championship game.  Michigan has been hovering between a -4 and -4.5 favorite.

Senator Mullin vs. O'Brien Fight Odds Now Up

It's not often we get to cross the intersection of sports and politics, but on Tuesday that's exactly what happened when a congressional hearing devolved into an angry confrontation between these two men.

iGaming and Blockchain With Becky Liggero and LilBit

Long time friend of the website Becky Liggero sat down with the frontline voice of BSV Blockchain, Handcash, Champions TCG and newcomers LilBit to discuss, among other things, the world of iGaming and how blockchain and micropayments can impact the space.