The US Securities and Exchange Commission said it has concerns about Coinbase Global Inc.’s proposed involvement in Celsius Network’s plan to emerge from bankruptcy.

Under the proposed plan, Celsius agreed to engage Coinbase to distribute assets to international customers. In a filing on Friday, the SEC — which charged Coinbase earlier this year with operating as an unregistered securities exchange, broker and clearing house — said the agreements “go far beyond the services of a distribution agent, contemplating brokerage services and master trading services that implicate many of the concerns” raised in its suit.

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Coinbase Role in Crypto Firm Celsius’s Bankruptcy Plan Questioned by SEC