Judge in Coinbase case endorses SEC's crypto regulation-by-enforcement strategy [Reuters]
Coinbase Global, Inc. - Class A (COIN)
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Source: Reuters
crypto exchange Coinbase, a Manhattan federal judge threw a bucket of ice-cold water on the crypto industry's criticism of the SEC's strategy of setting policy through enforcement actions. U.S. District Judge Katherine Polk Failla of Manhattan held that because at least some crypto trades on the Coinbase platform met the longstanding definition of an investment contract, the SEC can move ahead with claims that Coinbase improperly operated as a securities exchange, broker and clearing agency. She also said the SEC adequately alleged that Coinbase sold unregistered securities through its "staking program," in which customers received rewards for allowing Coinbase to pool their assets. The judge did dismiss SEC claims related to Coinbase's crypto wallet application, but, as my Reuters colleagues Hannah Lang and Jody Godoy reported on Tuesday morning, her holding that securities laws can apply to crypto trades on secondary exchanges “largely blesses the SEC's approach to cryptocurrenc
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COIN
News
- Sen. Warren challenger goes to bat for Coinbase, crypto industry in SEC lawsuit [Yahoo! Finance]Yahoo! Finance
- Consensys Suit Is Pressing The SEC On Ether's Security Status [Forbes]Forbes
- Sen. Warren challenger goes to bat for Coinbase, crypto industry in SEC lawsuit [FOX Business Network]FOX Business Network
- Warren Rival for Senate Race John Deaton Argues for Coinbase in SEC Challenge [Yahoo! Finance]Yahoo! Finance
- U.S. Stablecoin Bill Would Rein In Tether, Boost Coinbase And Circle, Outlaw Algorithmics [Forbes]Forbes
COIN
Earnings
- 2/15/24 - Beat
COIN
Sec Filings
- 4/25/24 - Form 4
- 4/25/24 - Form ARS
- 4/25/24 - Form DEF
- COIN's page on the SEC website