The Biden administration is facing a complex situation involving Coinbase, a major cryptocurrency exchange. The Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase in federal court, alleging that the platform is listing and selling unregistered securities. Coinbase has denied these allegations, asserting that it is not in violation of securities laws. Meanwhile, the Biden campaign is preparing to accept cryptocurrency donations via Coinbase, highlighting a potential conflict of interest as the administration simultaneously pursues legal action against the company. Additionally, the lawsuit includes specific allegations against Coinbase Wallet.
Forced to play defense. Love it. https://t.co/GPL9uZi55y
SEC: You’re listing & selling unregistered securities and you need to stop it. Coinbase: No, we’re not. Biden: What’s this crypto thing, and how can I get in on the action Coinbase? https://t.co/FV6ufwETn9
SEC: You’re listing & selling unregistered securities and you need to stop it. Coinbase: No, we’re not and no, we don’t need to. Biden: What’s this crypto thing, and how can I get in on the action Coinbase? https://t.co/QnlTzRqipd
Biden’s SEC is suing @coinbase in federal court arguing it doesn’t have a right to exist as an exchange. At the same time, the Biden campaign is preparing to accept crypto donations via coinbase. H/t @prestonjbyrne https://t.co/m3L22rPQDC
tfw your administration is trying to shut down Coinbase Wallet in federal securities litigation but you also want crypto bros to give you money https://t.co/UQ9IlR8lm4