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Bitcoin is little changed after SEC sues Coinbase

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The Bitcoin logo is displayed on the screen of a Bitcoin ATM on November 10, 2021 in Los Angeles, California.

Mario Tama | Getty Images

Cryptocurrency prices were little changed Tuesday after the Securities and Exchange Commission sued crypto services provider Coinbase.

Bitcoin hovered around $25,608.17, according to Coin Metrics. Ether ticked higher by less than 1%, to $1,809.86.

Solana, which is listed in the SEC filing as a coin that could be considered a “crypto asset security” by the regulator, fell more than 2%.

On Tuesday, the SEC filed a lawsuit in New York federal court alleging that Coinbase has been acting as an unregistered broker and exchange. The agency demanded that the company be “permanently restrained and enjoined” from continuing to do so.

The news came one day after the SEC alleged that Binance, the largest crypto exchange in the world by volume, and its co-founder, Changpeng Zhao, violated securities laws. Cryptocurrency prices fell Monday to their lowest levels since March following the complaint against Binance.

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