Shares of Coinbase (COIN) fell nearly 15 percent in midday trading Tuesday as the U.S. Securities and Exchange Commission filed a lawsuit against the crypto exchange, alleging that it was acting as an unregistered exchange and broker.

In the suit, filed in federal court, the SEC alleges that the crypto exchange violated securities law by failing to register with the SEC before it began operating in the United States. Specifically, the SEC alleges that Coinbase acted as an exchange, broker and clearing agency without registering with the agency.

Coinbase, the largest crypto-asset trading platform in the U.S., held more than $130 billion in assets on its platform as of March 31, according to the company.

Tuesday’s SEC complaint came a day after the SEC filed a lawsuit against Binance Holdings, the world’s largest cryptocurrency exchange. That lawsuit alleged that Binance had committed similar violations, including that the cryptocurrency trading platform failed to register as an exchange, broker or clearing agency.