If it walks like a dog and barks like a dog, perhaps it’s actually a digital asset security

Coinbase, the U.S.-based cryptocurrency exchange that is the third-largest globally, is “facing a U.S. probe into whether it improperly let Americans trade digital assets that should have been registered as securities,” according to a Bloomberg report. The news follows a move by the U.S. Department of Justice last week to arrest and charge a former Coinbase employee and two others with wire fraud and wire fraud conspiracy, alleging they had front-run listings on the crypto exchange.
The U.S. Securities and Exchange Commission then separately filed securities charges against the ex-

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