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

Viral Mods Showcase Creative Game Merges

Several viral mods have gained attention, including Minecraft in Elden Ring and Spider-Man in Gotham City.

user avatarRajesh Kumar

Gamers Create Unique Video Game Mashups Using AI

Innovative mods combine popular video games in unexpected ways, showcasing the power of AI in game development.

user avatarGustavo Mendoza

Gate Introduces Gate Money for Integrated Financial Services

Gate has officially launched Gate Money, a globally integrated financial services application that combines digital assets, fiat currencies, stocks, ETFs, and payments.

user avatarLuis Flores

Gate and Visa Collaborate to Introduce Cryptolinked Card

Gate has announced a collaboration with Visa to launch a cryptolinked card, enhancing the use of digital assets in everyday transactions.

user avatarMiguel Rodriguez

HTX Ventures Unveils New Report on Financial Sector Convergence

HTX Ventures has released a report analyzing the merging of centralized finance, decentralized finance, and traditional finance into a new digital asset architecture.

user avatarArif Mukhtar

Polygon Open Money Stack Integrates TRON Network

Polygon Labs announces the integration of TRON network into Polygon Open Money Stack, enhancing payment solutions for businesses.

user avatarMaria Gutierrez

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.