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Coinbase reminds world it tried to ‘embrace regulation’ as SEC sues for violations By Cointelegraph

© Reuters

“Coinbase (NASDAQ:) has embraced regulation since we were founded over a decade ago,” the cryptocurrency exchange’s chief legal officer, Paul Grewal, told the United States Congress on June 6. “The SEC [Securities and Exchange Commission] allowed us to become a public company in April 2021, which makes us unique in the crypto industry.”

Coinbase was sued by the SEC for alleged securities law violations on June 6, a day after the agency sued Binance and two and a half months after receiving a Wells notice warning the U.S.-based exchange of possible impending action by the regulator. Coinbase CEO Brian Armstrong said at the time:

Coinbase chief legal officer Paul Grewal in a video posted after the exchange received a Wells notice. Source: YouTube