The crypto exchange said the federal agency had selected its institutional investing arm “to provide custody and advanced trading services” for large-cap digital assets.
The United States Marshals Service will use Coinbase Prime to custody certain digital assets as part of the law enforcement agency’s responsibility to handle asset forfeiture.the USMS had selected the exchange’s institutional investing arm “to provide custody and advanced trading services” for large-cap digital assets. The cryptocurrency exchange said it would manage the assets “centrally in support” of the federal agency, which sometimes takes custody of crypto seized by the Justice Department.
Coinbase is still involved in a civil lawsuit filed by the U.S. Securities and Exchange Commission in June 2023. The financial regulator’s approach to enforcement cases has come under scrutiny in an election year, with the Supreme Court releasing a decision on June 27 entitling defendants to a jury trial for securities fraud cases.
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