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Published Jul 14, 2023 10:43PM ET Updated Jul 15, 2023 12:20AM ET
© Reuters
The U.S. Securities and Exchange Commission (SEC) has argued in court that approving a firm’s S-1 application to go public, does not represent a “blessing” from the agency, nor provide a verification that the business is regulatory compliant.
As per July 13 court documents from the pre-motion hearing of the SEC vs Coinbase (NASDAQ:COIN) case, the SEC asserted that it was not signing off on Coinbase’s business structure when giving it the greenlight to go public back in April 2021.
Allowing Coinbase to go public was not a ‘blessing’ of the business: SEC
