Coinbase Faces SEC Probe on Crypto Listings

Coinbase is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, Bloomberg reported Tuesday, citing people familiar with the matter. From the report: The US Securities and Exchange Commission's scrutiny of Coinbase has increased since the platform expanded the number of tokens in which it offers trading, said two of the people, who asked not to be named because the inquiry hasn't been disclosed publicly. The probe by the SEC's enforcement unit predates the agency's investigation into an alleged insider trading scheme that led the regulator last week to sue a former Coinbase manager and two other people. "We are confident that our rigorous diligence process -- a process the SEC has already reviewed -- keeps securities off our platform, and we look forward to engaging with the SEC on the matter," Chief Legal Officer Paul Grewal said on Twitter.

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