The Securities and Exchange Commission has notified the cryptocurrency exchange Coinbase that it plans to bring an enforcement action against the company—a move that sparked an open letter loaded with frustration and exasperation from its chief legal officer, Paul Grewal.
The San Francisco-based company received the so-called Wells Notice on Wednesday. After Coinbase received it, Grewal penned an open letter accusing regulators of unfairness toward cryptocurrency and digital assets.
