The US Securities and Exchange Commission (SEC) is about to reach a settlement with the Coinbase employee accused of insider trading.
The SEC announced in a statement that Coinbase is close to a settlement with the employee on trial. The editor made the announcement today.
SEC Close to Agreement with Coinbase Employee
The U.S. Securities and Exchange Commission is about to settle an insider trading lawsuit with a former Coinbase Global Inc product manager, according to a court filing this week.
A court document submitted stated that the SEC had reached an “agreement in principle” with Ishan Wahi to settle its claims against him.
Regulators accused Wahi of making at least $1.1 million in illicit profits by using non-public information about crypto listing announcements he acquired from his brother Nikhil Wahi and a close friend as an employee of Coinbase.
The case has garnered a lot of attention as one of the latest actions by a regulator who has become increasingly aggressive in regulating the crypto industry. While the pressure of the SEC in the crypto money industry was increasing in this period, this news attracted attention on the community side.
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