US SEC Reportedly Probing Coinbase for Listing Unregistered Securities

The US Securities and Exchange Commission (SEC) has opened an investigation against Coinbase to determine if the cryptocurrency exchange is listing any unregistered securities, according to a Bloomberg report on Tuesday.

Though there is no official confirmation yet, the publication cited three anonymous insiders to report the regulatory probe.

Coinbase is listing around 150 digital assets on its crypto exchange platform. The SEC investigation came as the number of listing on the exchange increased significantly.

Interestingly, it came only days after the US regulator said that seven  cryptocurrencies 
Cryptocurrencies

By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent…