SEC Allegedly Identifies Nine Unregistered Securities on Coinbase
Despite identifying the assets, the SEC has not issued any charges against their issuers.
Keep up with what's happening in the crypto world in real-time.
Despite identifying the assets, the SEC has not issued any charges against their issuers.
The U.S. Securities and Exchange Commission (SEC) has alleged that nine cryptocurrencies involved in an insider trading lawsuit are actually securities. Coinbase Global Inc (NASDAQ: COIN) said it “does not list securities on its platform.
SEC reveals Coinbase listed nine crypto assets that are securities that were unregistered, in a complaint against a former employee who was accused of insider trading so let's have a closer look at our latest Coinbase news.
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The US SEC listed nine cryptocurrencies as securities in response to the first-ever insider trading case involving crypto tokens against a former Coinbase employee.
The Securities and Exchange Commission and the Department of Justice brought charges against three individuals. However, the SEC's assertions that cryptocurrencies are securities are what caught everyone's attention and could hold greater implications for the crypto space.
The Securities and Exchange Commission is drawing criticism for regulating by enforcement instead of providing a clear regulatory framework.
CFTC Commissioner Caroline Pham took issue with the SEC labeling certain crypto assets as securities in an example of “regulation by enforcement."
The SEC revealed which assets on Coinbase it considers unregistered securities in a complaint against a former Coinbase employee who is accused of insider trading.
Today, the U.S. Department of Justice brought charges on three suspects for their alleged involvement in an inside trading scheme, one of the suspects was a former Coinbase employee. The case seems poised to have major implications for the crypto industry.
The SEC has asserted that some cryptocurrencies are securities as part of an insider trading case
On Thursday (July 21), the U.S. Securities and Exchange Commission (SEC) filed a complaint at U.S. District Court for the Western District of Washington against defendants Ishan Wahi, Nikhil Wahi, and Sameer Ramani.
The SEC and DOJ brought insider trading charges against three people Thursday, but assertions that nine cryptocurrencies are securities may hold greater implications.
The SEC has listed nine cryptocurrencies on Coinbase that it says are securities, providing more clarity on its views. The post SEC lists nine crypto tokens as securities following Coinbase insider trading charges appeared first on The Block.
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