In a filing with the Securities and Exchange Commission (SEC), Coinbase provides details on several regulatory and legal matters.

Coinbase says it that it has received investigative subpoenas and requests from the SEC for documents and information about certain customer programs, operations, and existing and intended future products, including the company’s processes for listing assets, the classification of certain listed assets, its staking programs, and its stablecoin and yield-generating products.

Based on the ongoing nature of these matters, the outcomes remain uncertain and the Company cannot estimate the potential impact, if any, on its business or financial statements at this time.

Furthermore, the company’s subsidiary, Coinbase, Inc., which holds a BitLicense from the New York Department of Financial Services (“NYDFS”) and is therefore subject to examinations and investigations by the NYDFS, is currently subject to an investigation by the NYDFS relating to its compliance program including compliance with the Bank Secrecy Act and sanctions laws, cybersecurity, and customer support.

Coinbase says it is cooperating fully and has undertaken initial remedial measures, and may face additional remedial and other measures. Based on the ongoing nature of the investigation, the outcome of this matter remains uncertain and the company cannot estimate the potential impact, if any, on its business or financial statements at this time.

In July, the SEC filed insider trading fraud charges against former Coinbase manager Ishan Wahi. Shortly after that, Coinbase issued a statement arguing that Coinbase does not list securities.

According to the company, the SEC’s charges highlight an important problem: the US lacks a clear or workable regulatory framework for digital asset securities. And instead of crafting tailored rules in an inclusive and transparent way, the SEC is relying on these types of one-off enforcement actions to try to bring all digital assets into its jurisdiction.