Coinbase: Cryptocurrency on Our Platform are not Securities

03/14/2023 05:20 • Crypto & Markets • 64 views

It is reported that according to the latest amicus curiae briefing submitted by Coinbase, the cryptocurrency exchange claimed that the cryptocurrency on its platform was not securities, and that Coinbase would also be willing to list securities products if the United States Securities and Exchange Commission gave appropriate guidance and regulations. Coinbase wrote in the briefing: “The United States Securities and Exchange Commission believes that digital assets are qualified as securities because they belong to investment contracts, but for encrypted assets, the legal term lacks two basic attributes. They are neither contracts nor investments.” (coindesk)

Coinbase: If the SEC makes rules, it is willing to list securities

Analysis based on this information:

Coinbase, one of the largest cryptocurrency exchanges in the world, has submitted an amicus curiae briefing to the United States Securities and Exchange Commission (SEC), claiming that the cryptocurrency on its platform are not securities. The briefing also suggested that Coinbase would be interested in listing securities products in the future if the SEC provided guidance and regulations.

According to Coinbase, the SEC regards digital assets as securities because they are linked to investment contracts. However, the exchange pointed out that cryptocurrencies lack two basic attributes of securities: they are neither contracts nor investments. This indicates that Coinbase is arguing that cryptocurrencies should not be regulated in the same way as traditional investment products, as they have unique properties that set them apart.

Coinbase’s stance is not surprising, as the company has been at the forefront of the cryptocurrency revolution and has long championed the decentralization and democratization of finance. However, this stance is not shared by everyone in the industry. Some believe that regulating cryptocurrencies as securities could provide clearer guidelines to investors and promote greater trust in the market.

Coinbase’s willingness to potentially list securities products was a notable aspect of the briefing. It suggests that the company recognizes the importance of regulatory compliance and is willing to work within established frameworks to expand its product offerings. However, this move also has the potential to raise concerns among some cryptocurrency enthusiasts who view such products as antithetical to the ethos of decentralized finance.

Overall, Coinbase’s amicus curiae briefing provides insight into the ongoing debate around how cryptocurrencies should be regulated. It highlights the need for greater clarity and guidance from regulators, while also underscoring the unique properties of digital assets that set them apart from traditional investment products.

In summary, Coinbase asserts that the cryptocurrency on its platform are not securities and that it would consider listing securities products if the SEC provided appropriate guidance and regulations. The exchange argues that cryptocurrencies lack two basic attributes of securities and should not be regulated in the same way as traditional investment products. The briefing provides insight into the ongoing debate around cryptocurrency regulation and highlights the need for greater clarity and guidance from regulators.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/7421.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Coinbase: Cryptocurrency on Our Platform are not Securities

Coinbase: If the SEC makes rules, it is willing to list securities

Related recommendations