Berenberg: Coinbase may soon face enforcement action from the U.S. SEC

ChainCatcher news, Berenberg stated in a research report on Monday that the U.S. Securities and Exchange Commission (SEC) will soon take enforcement action against Coinbase, which may reflect the regulatory agency's actions against competitor cryptocurrency exchanges Bittrex and Kraken.

Berenberg estimates that at least 37% of Coinbase's $736 million net revenue in the first quarter came from trading fees and trading cryptocurrencies other than Bitcoin, as well as fees from its staking services. Analyst Mark Palmer believes these revenue sources are likely to become targets of the SEC in the enforcement action that the commission will soon submit. (Source link)