• Vishal Gupta, Coinbase’s head of exchange, is reportedly leaving the company to start a new project in the crypto space.
• The largest crypto exchange in the US has become the subject of increased regulation scrutiny.
• Coinbase was recently served with a Wells Notice from the United States Securities and Exchange Commission (SEC).
Vishal Gupta Leaves Coinbase
Vishal Gupta, Coinbase’s head of exchange, is reportedly leaving the company to start work on a new project in the crypto space. A Goldman Sachs veteran who was most recently Coinbase’s senior director of product management, Gupta took to Twitter to share his news. Before joining Coinbase, he was the head of USD Coin for stablecoin issuer Circle.
Coinbase Subject of Regulatory Scrutiny
The largest crypto exchange in the US has become the subject of increased regulatory scrutiny as watchdogs step up their crypto policing efforts. Coinbase was recently served with a Wells Notice from the United States Securities and Exchange Commission (SEC), which signals enforcement action plans against the company.
Coinbase Responds to SEC Action
Coinbase responded to this action by calling it “unfair and unreasonable” but said that they welcome clarity if necessary through court proceedings. They argued that rulemaking and legislation are better tools for defining law than enforcement actions.
Disclaimer
This article is provided for informational purposes only and is not offered or intended to be used as legal, tax, investment, financial or other advice.
Conclusion
Vishal Gupta is reportedly leaving CoinBase after 2 1/2 years at the firm to start a new project in crypto space while CoinBase faces increased scrutiny from regulators who have issued them a Wells Notice from The United States Securities and Exchange Commission (SEC).