bigger rival, binance, and its billionaire creator. samira hussain has more from new york. in these latest charges, the sec said coinbase acted as a broker exchange and clearing agency for broker exchange and clearing auen y ., , , ., ., agency for investments that are sub ect to agency for investments that are subject to sec agency for investments that are subject to sec rules. agency for investments that are subject to sec rules. but - agency for investments that are subject to sec rules. but they i subject to sec rules. but they did so without properly registering, and that, they said, allows the firm to escape oversight, including guards against conflicts of interest. the charges against coinbase were not a surprise, as a publicly traded companies and disclosed in march that the sec had notified it that these charges may be coming. in response, coinbase said liberals are not clear. they testified on capitol hill that the chief legal officer said it try to get new rule
more from new york now. in more from new york now. in these latest charges, the sec said coin base acted as a broker, exchange and clearing agency for investments that are subject to sec rules but they did so without properly registering, and that, the regulator said, allowed the firm to escape oversight, including guards against conflicts of interest. the charges against coinbase were not a surprise. as a publicly traded company are disclosed in march of this year that the sec had notified it that these charges may be coming. in response, coinbase said the rules were not clear. testifying on capitol hill tuesday the chief legal officer for coinbase said it try to get new rules in place for crypto platforms like theirs, but got no response from the sec. since that time. no response from the sec. since that time. we no response from the sec. since that time, we have no response from the sec. since that time, we have had - no response from the sec. since that time, we hav
to work engagements with the sec to try to work towards a sensible framework for regulation that would framework for regulation that would allow for example the registration of platforms as either registration of platforms as either broker dealers or a tss or a either broker dealers or a tss or a national security exchange. we received no response after our presentations as part of those discussions. gn presentations as part of those discussions. presentations as part of those discussions. on the one hand, coinbase discussions. on the one hand, coinbase is discussions. on the one hand, coinbase is basically discussions. on the one hand, coinbase is basically saying, i coinbase is basically saying, look, we want to abide by your rules but the ones as written don t work for these new financial instruments like crypto currency. on the other hand, the regulator is saying rules are rules, and you are running afoul of them. it seems the us is making good on its promise to aggres
towards with the sec to try to work towards a sensible framework for regulation. we received no response for regulation. we received no response after our presentations as part of those discussions. gn presentations as part of those discussions. presentations as part of those discussions. on the one hand, coinbase discussions. on the one hand, coinbase is discussions. on the one hand, coinbase is basically discussions. on the one hand, coinbase is basically saying i discussions. on the one hand, | coinbase is basically saying we want to abide by the rules, but the ones is written don t work for these new financial instruments like cryptocurrency. on the other hand, the regulator is saying rules are rules and you are running afoul of them. it seems the us is making good on its promise to aggressively enforce rules to oversee the crypto industry. rules to oversee the crypto industry- rules to oversee the crypto indust . . . . industry. that was a samira hussain reporting in