Coinbase Faces $5M Penalty from New Jersey Securities Bureau and SEC Charges, Stock Tumbles 20%

The New Jersey Bureau of Securities has issued a Summary Cease and Desist Order against leading cryptocurrency exchange Coinbase, Inc. for allegedly offering unregistered securities tied to its cryptocurrency staking services. The Bureau has further levied a hefty penalty of $5 million against Coinbase.
This action was led by the New Jersey Office of the Attorney General and the Division of Consumer Affairs, aiming to enforce compliance with Securities Law. The violation pertains to Coinbase’s promotion of unregistered securities to New Jersey residents through their staking services. However, this order does not prevent Coinbase from offering staking services, as long as …

Be the first to comment

Leave a Reply

Your email address will not be published.