Coinbase Global Faces New York Scrutiny Amid Allegations of Unlicensed Gambling

Coinbase Global (NasdaqGS: COIN) is facing scrutiny from New York authorities, with both the NYC Council and the New York Attorney General launching investigations and a lawsuit.

The Attorney General's complaint alleges that certain Coinbase products function as illegal gambling businesses under New York law, leading to allegations of deceptive marketing and unlicensed operations.

Coinbase has launched an international tokenization hub in Abu Dhabi after securing new regulatory approval there, highlighting the growing legal risk in the U.S. alongside an expansion push in global digital securities markets.