[unnouinceput]

Because SEC is something specific to US and crypto is international perhaps? I doubt SEC has anything to say in this regard when the trading happens to belong to a citizen of China, for example. And while I do know Coinbase is US firm, so is AMEX. Insider trading at AMEX in regard to foreign citizens isn't something they can do anything about it, can they?

[hestefisk]

The exchange is still physically registered in the US, similar to how non US citizens can place trades on NYSE etc. This cowboy market is madness and irresponsible.

[valzam]

But the crux is that those trades didn't occur on Coinbase, the assets hadn't even been listed yet. So it might very well be a case of a non-us citizen trading on a non-us exchange (or defi exchange). What can the SEC do in this case?

[wdb]

But wouldn't US laws apply when it is an American company or trade in the US?

[unnouinceput]

Yes it does, hence why I gave both of them as examples above. Just take a look at AMEX history in regards to insider trading and foreign citizens, then tell me what SEC did in those cases. Coinbase is just the latest kid in the finance sector, with just a fraction of toys AMEX has palying with for decades already.

Let me put it this way. Coinbase is just a sliver of what money AMEX is trading and is used as dust in eyes to blind people at real insider trading that happens in real money makers, which are AMEX and the rest of well established banks. Good luck SEC doing anything about it.