The company’s legal head Paul Grewal said Coinbase will engage with the SEC on the matter
. “We are confident that our rigorous diligence process — a process the SEC has already reviewed — keeps securities off our platform,” Grewal said.
The probe by the SEC’s enforcement unit predates its investigation into an alleged insider trading scheme that was revealed last week. In related civil charges, the regulator alleged that Wahi’s brother Nikhil Wahi and their friend Sameer Ramani purchased and sold at least 25 crypto assets for a profit, nine of which the agency identified as securities.
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