Why did the SEC Sue Coinbase?

Could you possibly explain, in your expertise, the reasons behind the SEC's decision to initiate legal action against Coinbase? I'm genuinely curious as to what led to this situation and how it might impact the larger cryptocurrency ecosystem. Would this lawsuit potentially set a precedent for future regulatory actions against other crypto platforms? Additionally, what are your thoughts on the potential outcomes of this lawsuit and how it could shape the future of crypto regulation?