The US has charged the biggest crypto trading platform in the country with operating illegally, widening its crackdown on the industry.
The Securities and Exchange Commission says Coinbase had acted as a broker, exchange and clearing agency for investments that are subject to SEC rules, without properly registering.
The regulator says that had allowed the firm to escape oversight, including guards against conflicts of interest. Coin-base said the rules were not clear.
The complaint against Coinbase comes a day after the SEC sued Binance, the world's largest crypto trading platform, accusing the firm of mishandling customer funds, artificially inflating trading volume on the site and taking steps to evade US regulation.