The SEC said that nine of the 25 tokens allegedly traded in the scheme were securities.
"Coinbase has a rigorous process to analyze and review each digital asset before making it available on our exchange — a process that the SEC itself has reviewed."
Ripple, a San Francisco-based blockchain firm, is currently fighting a lawsuit from the SEC which claims XRP, a cryptocurrency it is closely associated with, should be treated as a security. The SEC's position is significant as it means Coinbase may be forced to classify some of the cryptocurrencies it offers as regulated financial instruments.
Coinbase has been known to be more conservative with its token listing framework than some other exchanges. Both Binance and FTX offer more than 300 coins, for example, while Coinbase lists just over 200, according to CoinGecko data.
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