According to Bloomberg, the US Securities and Exchange Commission is conducting a full-scale investigation into the listing of tokens on the Coinbase cryptocurrency exchange.
Previously, the SEC accused some former top Coinbase executives of insider trading. But, according to the sources of the publication, who wished to remain anonymous, this is only a “by-product” of the main investigation. The goal of the SEC is to determine whether there are any tokens on the Conbase site that are securities. In the event of such a discovery, the consequences for the site will be extremely negative.
Recall that as part of the accusation of insider trading, the SEC stated that 9 out of 150 tokens available to Americans on the country’s largest crypto exchange Coinbase are securities. Unfortunately, the regulator did not specify what kind of digital assets they are talking about. In the event that any tokens are officially recognized as securities, the exchange will have to obtain registration from the regulator.
Earlier, the head of the exchange’s legal department, Paul Grewal, said that the SEC’s allegations were unfounded. According to him, Coinbase has clear rules and carefully checks any asset before listing. And there is not a single token on the site that could be regarded as a security.
Source: Bits
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