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Fortune
Fortune
Leo Schwartz

'You simply can’t ignore the rules because you don’t like them': SEC sues Coinbase over securities law a day after suing Binance

Coinbase CEO Brian Armstrong (Credit: Victor J. Blue—Getty Images)

The Securities and Exchange Commission on Tuesday filed a lawsuit against Coinbase, alleging that the crypto exchange was operating as a broker, national securities exchange, and clearing agency without registering with the agency.

The SEC further alleges that different crypto assets offered on Coinbase are unregistered securities, including popular cryptocurrencies such as Solana and the native tokens of Cardano and Polygon.

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