The Securities and Exchange Commission (SEC) argued that just because it approves a company’s S-1 filing does not mean the company is or will not be operating in “violation of the law.” In court, the Securities and Exchange Commission (SEC) has argued that approving a company’s S-1 application to go public is neither a “blessing” from the agency nor a confirmation that the company complies with regulations. According to court documents from the SEC v. Coinbase pre-motion hearing, the SEC claimed that it did not approve of Coinbase’s business structure when it granted the company permission to go public in
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