Coinbase CLO Criticizes SEC for Inconsistent Approach to Cryptocurrencies

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Statement by Coinbase's CLO
  2. SEC's Clarifications on Terminology
  3. Accusations Against SEC


    4. Coinbase Chief Legal Officer Paul Grewal has criticized the Securities and Exchange Commission (SEC) for what he perceives as inconsistent treatment of cryptocurrencies, particularly in comparison to Ether.

    Statement by Coinbase's CLO

    In a post on X (formerly Twitter), Grewal highlighted footnotes in the Binance vs. SEC case where the regulator reportedly “regrets any confusion it may have invited” by repeatedly stating that tokens themselves are securities. The agency clarifies that by “securities,” it refers to the “full set of contracts, expectations, and understandings centered on the sales and distribution” of a cryptocurrency.

    SEC's Clarifications on Terminology

    In the Binance case, the SEC specifically identified ten cryptocurrencies — SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI — as securities. The regulator argues that these assets and their associated activities haven’t changed significantly.

    Accusations Against SEC

    Ripple CLO Stuart Alderoty asked the SEC to admit that it has become a “twisted pretzel of contradictions” regarding its policy on cryptocurrency regulation.

    Statements from Grewal and Alderoty highlight growing concerns and dissatisfaction regarding the SEC’s approach to cryptocurrency regulation, sparking further debate among market participants.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Aptos Reports Token Burn and Staking Emissions

Aptos has burned approximately 174,570 APT in the last 30 days while issuing around 15 million APT through staking.

user avatarEmily Carter

Cross River Bank Integrates Ripple's RLUSD Stablecoin for Enhanced Payment Solutions

Cross River Bank integrates Ripple's RLUSD stablecoin to enhance payment solutions for fintech customers.

user avatarTomas Novak

Stocklinked Tokens in DeFi Surge to $2.624 Billion

Stocklinked tokens in decentralized finance reached approximately $2.624 billion by the end of September 2026, marking an 18-fold increase from the beginning of the year.

user avatarKaterina Papadopoulou

Fidelity's Assessment Highlights Solana's Improved Reliability

Fidelity's assessment indicates Solana has operated for over two years without major outages, achieving a 99.7% vote success rate, but warns of concerns regarding validator concentration.

user avatarMaya Lundqvist

BitTorrent Unveils New Whitepaper and Brand Upgrade for Web3 and AI

In October 2023, BitTorrent unveiled a comprehensive brand upgrade and a new whitepaper outlining a tripartite architecture for decentralized content distribution and compute, aiming to enhance operational efficiency for Web3 and AI applications.

user avatarLeo van der Veen

JUST Completes Fifth Buyback and Burn of JST Tokens

JUST has successfully completed its fifth buyback and burn of JST tokens, burning over 170 million tokens.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.