SEC investigates Coinbase, says it may have illegally sold unregistered securities
by the SEC and state of New York, recently caught the regulator's eye after expanding the number of tokens it offers for trading.
After taking a conservative approach to listing cryptocurrencies, Coinbase now lets Americans trade more than 150 tokens, according to. If any of those are considered to be securities, it would need to register as an exchange with the SEC. A token is considered to be a security if it involves investors putting up funds for a company in order to profit from the work of its leadership.
Coinbase has previously complained that there's no regulatory framework for digital asset securities. As it happened, the company filed a petition for rule making to clarify those rules just before the SEC filed charges.
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