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News Explorer — SEC Pushes Back Against Celsius Plan to Use Coinbase in Bankruptcy Distribution

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Sep 25, 8:55 pm
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SEC Pushes Back Against Celsius Plan to Use Coinbase in Bankruptcy Distribution

The SEC has raised concerns over Celsius' plan to use Coinbase as a distribution agent, stating that it goes beyond the scope of a distribution agent and involves brokerage and master trading services. The SEC's objection is based on their ongoing lawsuit against Coinbase, where they allege that the exchange should have registered as an exchange, clearing house, and broker. In a tweet, Coinbase's Chief Legal Officer questioned why the SEC would object to "a trusted U.S. public company taking on this role."

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