SEC's Actions Against Coinbase and Crypto Investors Raise Concerns.

Coinbase's chief legal officer, Paul Grewal, has called the Wells Notice served by the US Securities and Exchange Commission (SEC) to the crypto exchange a sign that the regulator is hostile toward the industry as a whole. Grewal said that the notice is not just a shot at Coinbase, but at crypto as a whole, and that the industry needs to pay careful attention to the issue. The SEC has made a "preliminary determination" to recommend an enforcement action against Coinbase for allegedly violating securities laws.