Crypto Trading Platform Coinbase Blasts SEC Enforcement Efforts

WASHINGTON—Coinbase Global Inc. criticized the Securities and Exchange Commission for its approach to policing cryptocurrencies, raising questions about the regulator’s prospects of convincing the largest U.S. trading platform to adhere to its investor-protection rules.

SEC Chairman Gary Gensler, who has likened cryptocurrency markets to the Wild West, has repeatedly urged trading platforms such as Coinbase to register with the agency as securities exchanges. The companies have refused, and several—including Coinbase—are under SEC investigation.