SEC Completes Two-Year Review of Coinbase, No Amendments or Restatements Required

Odaily News The U.S. Securities and Exchange Commission (SEC) has completed a long review of Coinbase's financial disclosures and ultimately did not require the company to amend or restate the relevant documents. Coinbase Chief Legal Officer Paul Grewal said the review covered 10-K filings for fiscal years 2022 and 2023, which took more than two years, and had fully resolved relevant comments with the SEC's Corporate Finance Department. In the letter, the SEC reminded that the company and management are still responsible for the accuracy and adequacy of the disclosures, and the completion of the review does not represent official endorsement. The process began shortly after Coinbase went public in April 2021, as compliance standards for crypto companies continued to evolve. In addition, since the Trump administration came to power, the U.S. regulatory attitude has become more relaxed. The SEC has withdrawn lawsuits against several crypto companies and has begun to develop a new industry regulatory framework. (cryptoslate)