The SEC began to turn its attention to Coinbase, the most used platform in the United States (although not worldwide where Binance is the leader) after it began to increase the number of “tokens” it offers for the exchange. However, from the platform they denied the accusation.
“We are confident that our rigorous due diligence process, a process that has already been reviewed by the SEC, keeps securities off our platform, and we look forward to further discussion on the matter,” Coinbase Chief Legal Officer Paul Grewal said in a statement. your Twitter account.
In a separate case, the SEC last week charged a former Coinbase employee with violating exchange regulations by leaking information to help his brother and a friend buy “tokens” before they appear on the platform. which, nine of them were determined as values. The SEC does not have jurisdiction over digital assets but it does have jurisdiction over securities, and according to the agency’s current position, many of the cryptocurrencies would fall within that framework.
Under the regulations, a digital asset is a security (or “security”, according to the term in English) when there is an investment contract, that is, in the event that “money is invested in a common company with a reasonable expectation of that profits be derived from the efforts of others.
Source: Ambito
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