SEC sues Coinbase

Following a lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance, this body also filed a lawsuit against the Coinbase cryptocurrency exchange, Coinkolik reports.

The SEC states that Coinbase has never been registered as a broker, national securities exchange, or clearing agency. According to the SEC, Coinbase shied away from its disclosure obligation in the securities markets.

As a result of this news, the price of bitcoin fell by 3.9% to $25,645.