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Former SEC Lawyer Reveals Possible Reasons for Delay in Enforcement Action Against Coinbase Amid Ripple Lawsuit

Former SEC lawyer Marc Fagel has suggested that the US Securities and Exchange Commission (SEC) may be awaiting a ruling in the Ripple lawsuit before taking legal action against Coinbase. Fagel noted that it typically takes 30-60 days after a Wells submission is received for an enforcement action to be filed, and the submission was made around April 19. The SEC had issued a Wells Notice to Coinbase in March, alleging violations of federal securities laws. Ripple has been in a legal battle with the SEC for over two years, with a summary judgment decision expected imminently.

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