Coinbase shares response to SEC’s Wells notice from last month

In a post to Coinbase’s blog, Paul Grewal stated in part: "Last month, we shared that we received a vague and broad Wells notice from the SEC – today we’re sharing our response to the SEC. We provided a written and video submission to the SEC, and we discussed those submissions with the SEC a few days ago. Coinbase is the same company that we were when the SEC allowed us to become public two years ago, after detailed discussions with us about the very aspects of our business that are now the subject of the Wells notice. We didn’t list securities then, and we still don’t. We’d like to in the future, but the SEC has still not complied with the law by providing companies like Coinbase with a way to register to be able to do that. We do not relish litigation against the SEC, but we will vigorously defend ourselves – and stand up for the rule of law for everyone. In the meantime, the financial system still needs updating, so we’ll continue building. We will also continue to ask Congress for legislation and the SEC for rulemaking so that regulatory clarity isn’t left to the courts." Reference Link