The SEC has stated in court that approving a company's S-1 application to go public does not mean that the agency endorses the business or confirms its regulatory compliance. The SEC trial counsel emphasized that the approval of an S-1 is not a blessing of the entire business, and there is no evidence that the SEC looked at specific assets and made specific determinations. The comments have raised questions about why the SEC would allow a non-compliant business to go public and allow Americans to invest in it. Coinbase is currently facing a case brought by the SEC for alleged unregistered securities offerings dating back to 2019.
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SEC argues approving S-1 application for IPO does not mean regulatory complianc
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