As mentioned in the class action filing, Coinbase is currently being investigated by the Securities and Exchange Commission ( SEC ). The regulatory agency is probing to determine whether the leading crypto exchange allowed US persons to trade unregistered securities. According to a Bloomberg report, the SEC is taking a closer look at the alleged listed tokens, which is also separate from an unrelated Coinbase insider trading case. The latter entails the SEC and Department of Justice (DOJ) accusing a former Coinbase product manager and at least two cohorts of insider trading and wire fraud.