Coinbase Receives Wells Notice From SEC Over Offering of Securities

Coinbase has obtained a Wells word from the SEC over its current supplying of securities. The word is a sign that the SEC can be starting a proper research into the organization's activities.

Coinbase, that's one in every of the biggest cryptocurrency exchanges withinside the world, is already dealing with scrutiny from the U.S. Securities and Exchange Commission (SEC) over its current supplying of securities to raise $300 million in capital to fund in addition improvement at its New York-primarily based totally exchange.

The SEC has been searching into Coinbase seeing that December 2018 as a part of its broader evaluation of preliminary coin offerings (ICOs). It changed into pronounced at that point that the regulator changed into sad with Coinbase's advertising and marketing efforts for its very own token sale, which raised $250 million for Coinbase Ventures, an arm of the organization created to spend money on blockchain companies.