The U.S. Securities Exchange Commission (SEC) is probing the crypto exchange Coinbase over its token listing processes, staking programs and yield-producing products.
As per the firm’s recent quarterly report, Coinbase has received investigative subpoenas and requests from the SEC for documents.
In the 10-Q form, it is revealed that the firm is also being investigated for information on few customer programs, functions, and current and future products, including ‘the Company’s processes for listing assets’, the ‘classification of certain listed assets, its staking programs, and its stablecoin and yield-generating products’.
In July, Coinbase had asked the SEC for clear regulation for the crypto securities.
The firm has, however, taken a positive stance even in the midst of these allegations as it believes that the ultimate resolution of current legal and regulatory investigation matters won’t have a ‘material adverse effect on the financial condition’, ‘results of operations, or cash flows’ of the firm.
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