SEC Rebuts Coinbase's Attempt to Get Appeals Court to Answer Key Crypto Question [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
Coinbase, the largest U.S. crypto exchange, filed for permission to ask the Second Circuit Court of Appeals if the Howey Test, a longstanding Supreme Court assessment for securities, should apply to digital assets. Coinbase hopes it doesn't. Coinbase hasn't successfully argued this is needed, the U.S. Securities and Exchange Commission said Friday. The question lurks at the center of the SEC's accusation that Coinbase operates as an unregistered broker, exchange and clearinghouse in the U.S. If some cryptocurrencies are securities – thus meeting the Howey Test – that means Coinbase needed to get the SEC's blessing before letting customers trade them, according to regulators. In its filing , the SEC argued that Coinbase was trying to create a "new legal test" for how crypto might fit into existing securities precedent that a district court judge had already rejected. "Coinbase remains unable to advance a single, coherent version of this theory, which it now claims presents a c
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COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/22/24 - Form 4
- 5/22/24 - Form 4
- 5/22/24 - Form 4
- COIN's page on the SEC website