🚨News Flash: US SEC asks federal judge to deny Coinbase's motion to dismiss a lawsuit filed by the regulator. The SEC insists that some cryptocurrencies on the Coinbase platform are investment contracts under the Howey Test and must be registered. Coinbase argues that the assets it lists "are not securities and are outside the jurisdiction of the SEC." What do you think? Comment below! 💬
- The SEC claims that Coinbase "always knew" whether the cryptocurrencies it sells are securities under the Howey Test.
- The SEC rejects Coinbase's "big questions doctrine" argument that the regulator has no authority over the crypto market until Congress says so.
- Paul Grewal, Coinbase's chief legal officer, says the SEC's arguments would mean that "everything from Pokémon cards to stamps to Swiftie bracelets are also securities."
- The SEC claims that Coinbase "always knew" whether the cryptocurrencies it sells are securities under the Howey Test.
- The SEC rejects Coinbase's "big questions doctrine" argument that the regulator has no authority over the crypto market until Congress says so.
- Paul Grewal, Coinbase's chief legal officer, says the SEC's arguments would mean that "everything from Pokémon cards to stamps to Swiftie bracelets are also securities."