• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 20 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 4 hours "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 6 days Wind droughts
  • 12 hours ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 12 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 2 days Xi Is Set To Be Re-Elected As China’s Leader
  • 8 days Oil Prices Fall After Fed Raises Rates
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 13 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
A New Design For Faster Hydrogen Storage

A New Design For Faster Hydrogen Storage

University of Technology Sydney (UTS)…

SEC Investigates Coinbase Over Securities Listings

The SEC is investigating Coinbase over whether it allowed the trading of crypto assets that should have been registered as securities, Bloomberg reported.

Coinbase maintains that it does not list securities on its platform, with the crypto exchange’s Chief Legal Officer Paul Grewal tweeting last week, “We 100% disagree with the SEC’s assertion that any of the crypto assets we list are securities.”

Neither Coinbase nor the Securities and Exchange Commission responded to City A.M.’s request for comment.

The SEC’s probe began before the US regulator investigated and charged a former Coinbase manager and two of his acquaintances for insider trading last week in the first such case related to crypto, according to Bloomberg.The US Department of Justice charged them with the same, alleging that the former employee tipped his brother and friend on crypto assets due to be listed on Coinbase. 

The SEC additionally filed securities fraud charges against the accused, saying that nine digital assets involved in the alleged insider trading were securities. The DOJ did not file such charges.

Coinbase spoke out against the charges. “We 100% disagree with the SEC’s decision to file these securities fraud charges and the substance of the charges themselves,” Grewal wrote in a blog post last week.

Related: American Refiners' Record Profits Won't Last

“None of these assets are securities,” he said. “Coinbase doesn’t list securities. Period.”

He elaborated that Coinbase has a “rigorous” process that analyses and reviews all digital assets before they are made available on the exchange, a process which the SEC has reviewed, he added. This process analyses whether an asset can be considered a security, and considers regulatory compliance and information security aspects of the asset. 

“In the absence of a concrete digital asset securities regulatory framework from the SEC, we remain confident that Coinbase’s rigorous review process keeps securities off Coinbase’s platform,” Grewal said.

“We remain eager to share our perspective with the SEC, especially through a formal rule-making process desperately needed.”

The crypto industry in the US and globally does not come under a regulatory framework, with the SEC and its chair Gary Gensler urging for clearer regulations on crypto.

By CityAM

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News