Why did the SEC charge Coinbase?

Could you please explain, in a concise manner, why the Securities and Exchange Commission (SEC) decided to bring charges against Coinbase? What specific actions or practices did Coinbase engage in that prompted this legal action? How does the SEC's decision align with its regulatory framework and overall objectives in the realm of cryptocurrency and finance? And finally, what are the potential consequences of these charges for both Coinbase and the broader cryptocurrency industry?