Home/ News / World/  Crypto exchange Coinbase faces US SEC probe over cryptocurrency listings

Crypto trading platform Coinbase Global Inc is facing a US Securities and Exchange Commission (SEC) investigation on if it improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on 26 July.

According to details, the SEC's is looking into an alleged insider trading scheme that was revealed last week.

Earlier last week, US prosecutors in Manhattan charged a former product manager at Coinbase and two others with wire fraud in the first insider trading case involving cryptocurrency, added the report.

ALSO READ: 10 Best New Cryptos on Coinbase to be Announced in 2022

Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased.

The SEC on 21 July had alleged that the that cryptocurrency exchange Coinbase listed nine crypto asset securities. In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.

Meanwhile, Coinbase had disputed the SEC’s allegations. "Coinbase does not list securities on its platform. End of story," Bitcoin.com quoted Coinbase's chief legal officer Paul Grewal as saying.

"The SEC alleges that nine digital assets involved are securities. The DOJ reviewed the same facts and chose not to file securities fraud charges against those involved," he added further.

Considering the trading of cryptos, here are the prices of top 10 cryptos at 8:00 am on 26 July (Wazirx.com):

Cryptocurrency  Rate (in Rs) Percentage change (in past 24 hrs)
Bitcoin (BTC)17,89,499 -3.38
Ethereum (ETH)1,22,010 -5.63
Binance Coin (BNB)20,424 -4.1
XRP 27.84 -4.48
Solana (SOL) 3,050 -10.9
Binance USD (BUSD)78.84 0.8
Cardano (ADA)39.3 -5.3
Dogecoin (DOGE)5.35 -2.5
Polkadot (DOT)582 -1.5
Shibu Inu (SHIB)0.000903 -5.9

With Bloomberg inputs.

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Updated: 26 Jul 2022, 08:23 AM IST
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