Coinbase Confirms Receipt of SEC Requests for Exchange Operations, Products and Listings

</span>exchange products and listings&#8221;src=&#8221;/wp-content/uploads/2022/08/c8c9bf9505bf502e3ab5e278765a6604.png&#8221; alt=&#8221;Coinbase has confirmed receiving inquiries from the SEC about the exchange's operations, products and listings&#8221; /></p>

Coinbase exchange reported receiving inquiries from the U.S. Securities and Exchange Commission (SEC) about operations, client programs, and current and future products of the company.

According to the documents, the SEC is interested in asset listing processes, asset classification, staking programs and stablecoins.

So far, the exchange cannot assess the potential impact of such requests on the business.

However, Coinbase admitted that in light of"Uncertainties inherent in these matters," the results of the investigations could have a "material adverse effect on the company's results of operations."

In the second quarter of 2022, the company already recorded a net loss of $1.1 billion.

In a letter to shareholders, the exchange noted that the SECsubmitted a voluntary disclosure request in May. The company added that they do not yet know whether the Commission's initiative will become an official investigation.&nbsp;

Coinbase emphasized that it is ready for &#171;productive discussions on the regulation of crypto assets and securities&#187; both with the SEC and with other regulators.

Earlier in the United States, the former top manager of Coinbase Ishan Wahi and his alleged accomplices were arrested. They were accused of fraud using insider trading.

The SEC filed a lawsuit against the suspects with similar theses, but emphasized that we are talking about securities fraud.&nbsp;

Coinbase emphasized that no securities are traded on its platform.

The media, citing sources, reported that the SEClaunched an investigation into Coinbase Global. According to them, the exchange attracted the attention of the regulator against the backdrop of the platform expanding the number of tokens for trading.

In August, two class-action lawsuits were filed against Coinbase. According to the plaintiffs, the exchange offered investors cryptocurrency assets that should have been registered as securities.

According to Forbes, the SEC has begun to investigate the activities of every U.S.-registered cryptocurrency exchange.

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