Coinbase Denies Listing Securities , Amid SEC Insider Trading Case.
NBC reports that Coinbase has pushed back against
claims from the Securities and Exchange Commission
(SEC) that it offers unregistered securities.
NBC reports that Coinbase has pushed back against
claims from the Securities and Exchange Commission
(SEC) that it offers unregistered securities.
The pushback comes amid
fraud charges against a former
employee of the company. .
On July 21, a former Coinbase product manager
was charged with wire fraud in connection
with an alleged insider trading scheme.
On July 21, a former Coinbase product manager
was charged with wire fraud in connection
with an alleged insider trading scheme.
The insider trading case
involving cryptocurrencies
was the first of its kind.
The former employee has been charged
with plotting to profit from listings on the Coinbase
platform before they were publicly announced.
On July 21, a separate complaint filed by the
SEC claims that nine of the 25 tokens allegedly involved with the scheme were securities.
Paul Grewal, Coinbase's chief legal officer,
denied the allegations in a blog post titled
“Coinbase does not list securities. End of story.”.
Seven of the nine assets included
in the SEC’s charges are listed
on Coinbase’s platform.
None of these assets are securities, Paul Grewal, Coinbase's chief legal officer, via NBC.
Coinbase has a rigorous process
to analyze and review each digital
asset before making it available
on our exchange — a process
that the SEC itself has reviewed, Paul Grewal, Coinbase's chief legal officer, via NBC.
NBC reports that both regulators and crypto firms
have argued over whether some cryptocurrencies
should be considered securities. .
NBC reports that both regulators and crypto firms
have argued over whether some cryptocurrencies
should be considered securities.