"Coinbase's Legal Battle with SEC: A Turning Point for Cryptocurrency"
TL;DR Summary
A lawyer for Coinbase argued in court that owning cryptocurrency is akin to buying collectibles like Beanie Babies, American Girl Dolls, or baseball cards, and should not be classified as securities. The lawyer emphasized that cryptocurrency investors do not have a stake in the companies behind the currencies, unlike stock or bond holders. The Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase for operating its crypto asset trading platform as an unregistered national securities exchange and for failing to register the offer and sale of its crypto asset staking-as-a-service program.
- Cryptocurrency, Beanie Baby comparison made again in Coinbase case USA TODAY
- Crypto Biz: Coinbase vs. SEC case will determine crypto tokens fate Cointelegraph
- The SEC Goes Back to Court CoinDesk
- Coinbase has 70% chance of winning against SEC: Bloomberg analyst CryptoSlate
- Standing up to government overreach is an American tradition. Now it’s crypto’s turn Fortune
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