ChainCatcher news, according to market news, the U.S. Securities and Exchange Commission (SEC) has announced the dismissal of the civil enforcement action against Coinbase (COIN.O).The case dates back to June 2023 (two years after Coinbase went public), when the SEC sued Coinbase, accusing it of merging the three typically separate functions of broker, exchange, and clearinghouse, in violation of U.S. securities laws.

ChainCatcher News: The U.S. Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the U.S. District Court for the Southern District of New York, accusing Mek Global Limited, PhoenixFin PTE Ltd., Flashdot Limited, and Peken Global Limited of jointly operating a centralized digital asset exchange called KuCoin, in violation of the Commodity Exchange Act (CEA) and CFTC regulations on multiple occasions. In the ongoing litigation against KuCoin, the CFTC seeks the return of ill-gotten gains, civil monetary penalties, permanent trading and registration bans, as well as a permanent injunction against further violations of the CEA and CFTC regulations.In a separate criminal case, the U.S. Attorney's Office for the Southern District of New York has indicted PhoenixFin PTE Ltd., Flashdot Limited, and Peken Global Limited, accusing them of violating the Bank Secrecy Act, operating an unlicensed money transfer business, and conspiring to violate the Bank Secrecy Act and engage in unlicensed money transmission activities.