Coinbase General Counsel (CLO) Paul Grewal stated that they disagree with the US Securities and Exchange Commission’s (SEC) designation of 9 cryptocurrencies as securities.
of the world 2nd largest. cryptocurrency exchange Paul Grewal, Coinbase’s Chief Legal Counsel (CLO), July 22 In a statement on the Coinbase blog, the US Securities and Exchange Commission 9 cryptocurrencies qualifying it as a security Not joining as Coinbase expressed.
According to the information in the blog post, the SEC said that a former Coinbase employee of the Department of Justice listing decisions with company confidential information in addition to misconduct against the employee following his investigation into the misconduct securities fraud made the accusation. In Grewal’s statement, Caroline Pham, member of the U.S. Commodity Futures Trading Commission (CFCT), said:This is legislation through the judiciary.” he stated.
CLO, joins company commissioner Pham and expressed disagreement with the SEC’s classification of securities in the charges. Grewal, the subject of the allegations 7 out of 9 cryptocurrencies He stated that it is listed on Coinbase, that Coinbase undergoes a rigorous research process before listing a digital asset. In addition, as a result of this process, the many for the asset to be listed on Coinbase. although it is not considered appropriate shared.
According to the information transferred, Coinbase has cooperated with the SEC, but the SEC has asked Coinbase about 7 assets listed on Coinbase. direct litigation instead of obtaining information choosed. Grewal argues that this is an important causing the problembecause the US has yet to net and applicable a frame not and the SEC, He stated that instead of creating specific rules in an inclusive and transparent manner, he tried to bring non-securable assets under his jurisdiction by forcibly making them securities..
Grewal as Coinbase creating digital asset securities regulation to share their perspectives with the SEC on they are willing stated.