The US Securities and Exchange Commission (SEC) is investigating Coinbase on suspicion it allowed US people to trade “unregistered securities.” SEC alleged that seven cryptocurrencies listed on Coinbase were securities. In a separate insider trading case against a former Coinbase employee a few days prior, the SEC had named nine cryptocurrencies listed on Coinbase as “securities.”
The SEC still has vague rules for defining how cryptocurrencies might be deemed securities. But treating tokens as “securities” will significantly increase the regulatory oversight. And given how aggressively the authorities are going after crypto, most tokens will be “under attack” and will likely be deemed securities. It will lead to the respective coins being delisted from exchanges, penalties for exchanges as well as teams that created the coins, among other things.
Portal DeFi’s ( [ Ссылка ] ) executive chairman raised this concern four years ago, and has chosen a compliant mechanism to raise funds. Yes, there is a clear and compliant way for projects to raise funds from American investors without their native digital asset being considered a security by regulators.
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Coinbase's Lawsuit Could Change Crypto Forever...
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