https://arstechnica.com/tech-policy/2023/06/sec-sues-coinbase-continues-major-crackdown-on-cryptocurrency-exchanges/

Just one day after suing Binance, the US Securities and Exchange Commission (SEC) has now sued Coinbase, the largest cryptocurrency exchange operating in the US.

The SEC alleged that Coinbase has violated laws since "at least 2019" by failing to register both its cryptocurrency trading platform and its crypto asset-staking program. Director of the SEC’s Division of Enforcement, Gurbir S. Grewal, said in a press release that Coinbase chose not to register, making "calculated decisions" that "may have allowed it to earn billions" while knowingly depriving Coinbase investors of SEC protections.