(2023)
SEC v. Coinbase
Year
2023
Criminal or Civil
Civil
Year Resolved
N/A (case is ongoing as of 2025)
Jurisdiction (Court/State)
U.S. District Court for the Southern District of New York
Filed By
U.S. Securities and Exchange Commission (SEC)
Penalty/Fine (USD)
Pending – The SEC seeks disgorgement, interest, penalties, and injunctive relief; no finalized penalties have been announced as of the latest public record.
Lawsuit Overview
The SEC charged Coinbase, Inc. with operating as an unregistered national securities exchange, broker, and clearing agency, and for failing to register the offer and sale of its staking-as-a-service program. The case alleges Coinbase generated billions in revenue since 2019 while depriving investors of regulatory protections.
Category
Unregistered Securities Offering; Failure to Register Exchange, Broker, and Clearinghouse; Staking-as-a-Service
Notable Individuals Involved
Brian Armstrong (CEO of Coinbase)
SEC Chair Gary Gensler
Gurbir S. Grewal (Director of Enforcement)
Legal teams led by Jorge G. Tenreiro, Ladan Stewart, Olivia Choe
Investor Loss Estimate
Not quantified. However, SEC alleges investor protections were bypassed, affecting millions of users and billions in transactions.
Final Outcome
Ongoing – As of now, no court ruling or settlement has concluded the case.
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