Yugocean
Valued Contributor
SEC is trying to get involved after FBI arrested Coinbase's Product manager Ishan Wani and his brother, (another person is absconding). The trio did insider trading, that manipulated 25 cryptocurrencies.
Although Insider trading in market isn't new, but arrested in crypto market is new, but that was first arrest related to crypto market, and it brought much new news.
SEC is in attempt to charge Coinbase for insider trading of 'securities", SEC consider all cryptos expect Bitcoin as securities, and there was insider trading of multiple cryptocurrencies. However, coinbase is in no mood to accept this, the fortune 500 listed company is refusing to accept any crypto as security.
This time is not good for Coinbase, and it's denying to accept any crypto as a security has strengthened its position especially when SEC is losing case against XRP, the agency won't be going too harsh on a company to accept whatever they say.
Although Insider trading in market isn't new, but arrested in crypto market is new, but that was first arrest related to crypto market, and it brought much new news.
SEC is in attempt to charge Coinbase for insider trading of 'securities", SEC consider all cryptos expect Bitcoin as securities, and there was insider trading of multiple cryptocurrencies. However, coinbase is in no mood to accept this, the fortune 500 listed company is refusing to accept any crypto as security.
This time is not good for Coinbase, and it's denying to accept any crypto as a security has strengthened its position especially when SEC is losing case against XRP, the agency won't be going too harsh on a company to accept whatever they say.
