A look at the similarities and differences between the SEC's lawsuits against Coinbase and Binance, as the SEC views every crypto exchange in the US as illegal

SEC v. Crypto — “A decent rule of thumb,” I wrote in March, “is that all cryptocurrency exchanges are doing crimes …

Bloomberg 2023-06-07 Matt Levine

Context & Ripple Effects

The paired actions place Coinbase and Binance in the same enforcement frame: the SEC is challenging the legal basis on which major U.S.-facing crypto trading platforms operate. Coinbase had already been accused of operating as an unregistered broker and of rule violations tied to staking in the SEC's Coinbase complaint.

The cases build on an enforcement path that had also reached Bittrex and particular tokens, while contemporaneous state action added a separate layer of pressure on Coinbase. The comparison matters because it tests whether exchange operations, token listings, and staking can be treated as distinct issues or as parts of one securities-law theory.

First-order effects

Coinbase and Binance face immediate legal and compliance pressure over their exchange operations; Coinbase's staking offering is specifically in the enforcement spotlight.
The SEC's position puts the U.S. operations of other crypto exchanges under heightened legal uncertainty, not just the two named companies.

Second-order effects

Other exchanges may reassess listings, staking products, and registration posture as the Coinbase and Binance cases clarify which elements of their models draw enforcement risk.
State-level scrutiny can compound federal action, as shown by the multi-state order targeting Coinbase, increasing the compliance burden for platforms serving U.S. customers.

Third-order effects

If courts accept the SEC's underlying theory, crypto-market access in the U.S. could increasingly depend on securities-market compliance rather than the sector's existing exchange model.
The disputes may sharpen the unresolved boundary between crypto assets and regulated securities, continuing a conflict rooted in earlier ICO enforcement rather than settling it quickly.

The trend: This is one data point in crypto's legitimacy gap: enforcement is testing whether established crypto intermediaries can operate in the U.S. without fitting conventional securities-market rules.

Discussion

@deitaone @deitaone on x
COINBASE CEO BRIAN ARMSTRONG SAYS BINANCE, COINBASE BUSINESSES AND SUITS COULD NOT BE MORE DIFFERENT $COIN
@icodrops @icodrops on x
.@cz_binance and @brian_armstrong's fortune decreased by $1.4 billion and $361 million respectively in the last two days. https://www.bloomberg.com/... [image]
@modestproposal1 @modestproposal1 on x
This is very good and thorough as you would expect, but I mean, at a base level, it seems obvious crypto are securities, and the SEC has said so for 6 years. You may not like the law, but the law appears pretty clear. And companies were just breaking it. https://www.bloomberg.com…
@matt_levine Matt Levine on x
we are operating as a fking unlicensed securities newsletter in the USA bro https://www.bloomberg.com/...
@brandon.dimcheff.com Brandon on bluesky
mission driven company, where the mission is failure
@chrishornb.bsky.social Chris H on bluesky
In consecutive days the SEC has brought action against Binance and Coinbase. — I'm starting to think all this cryptocurrency stuff may not be on the up-and-up.
@caseynewton.bsky.social Casey Newton on bluesky
How are the “we take a long view of crypto” people doing today
@brian_armstrong @brian_armstrong on x
Regarding the SEC complaint against us today, we're proud to represent the industry in court to finally get some clarity around crypto rules. Remember: 1. The SEC reviewed our business and allowed us to become a public company in 2021. 2. There is no path to “come in and... https…
@secgov @secgov on x
Today we charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency and for failing to register the offer and sale of its crypto asset staking-as-a-service program. https://www.sec.gov/... […
@cameron Cameron Winklevoss on x
Being sued by the SEC used to mean you probably did something wrong. Now it means you're probably doing something right.
@garygensler Gary Gensler on x
Coinbase's alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC. https://twitter.com/...
@tier10k @tier10k on x
[DB] SEC Sues Coinbase
@jack @jack on x
Yes. https://twitter.com/...
@tuongvyle12 @tuongvyle12 on x
Let's be clear: the @SECGov complaint doesn't mention this, but there is currently NO way for a platform like @coinbase to register as a securities exchange, broker, or clearing agent. That's why they've been begging @SECGov for YEARS to give them a path to compliance.
@elonmusk Elon Musk on x
@jack Doge ftw
@cz_binance @cz_binance on x
If you have to pick a fight with everyone, maybe you are the one at fault. 🤷‍♂️
@senatorhagerty Senator Bill Hagerty on x
The @SECGov is weaponizing their role to kill an industry. Allowing a company to list publicly and then stonewalling their attempts to register is indefensible. @GaryGensler, expect to hear from Congress. https://www.wsj.com/...
@jack @jack on x
💯 https://twitter.com/...
@jchervinsky Jake Chervinsky on x
SEC: our mission is to protect investors Also SEC: reviews Coinbase's business model, approves Coinbase to go public, allows Coinbase to sell stock to retail investors Then SEC: alleges Coinbase's business model is illegal and tanks stock by 20% causing losses to investors ???
@tier10k @tier10k on x
[DB] SEC Allege the Following Coins Are Securities in Coinbase Lawsuit SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO
@buccocapital BuccoCapital Guy on x
If your CEO tweets this after being sued by the SEC it's over “The Stand with Crypto commemorative NFT is a symbol of unity for the crypto community seeking sensible crypto policy. It represents our collective stand to protect and promote the potential of crypto. [image]
@ivanthek @ivanthek on x
Coinbase might have a legitimate beef that the SEC was not as communicative as they could've been, but if they violated securities laws, it isn't an excuse. The courts will determine this.
@iampaulgrewal @iampaulgrewal on x
Tomorrow I will be testifying on Capitol Hill before the House Committee on Agriculture on the need for clear crypto rules and the Digital Asset Market Structure Discussion Draft. Read a summary of my testimony here/below:https://www.coinbase.com/ ...
@tier10k @tier10k on x
SEC v Coinbase https://storage.courtlistener.com/ ...
@cz_binance @cz_binance on x
They didn't sue FTX. https://twitter.com/...
@thestalwart Joe Weisenthal on x
@markets @brian_armstrong Here's what Armstrong said. And here's what the SEC said about Polygon. Is it really that different? I mean, there's no YouTube specifically, but... [image]
@thestalwart Joe Weisenthal on x
Wrote a little bit about the SEC's lawsuit against Coinbase in the @markets newsletter today. One thing that strikes me is how the SEC's definition of a security doesn't really seem that much different than Coinbase's own criterion https://www.bloomberg.com/... [image]
@wublockchain Wu Blockchain on x
SEC Chair Gary Gensler said in the interview: He mentioned Binance a lot and criticized it, but mentioned Coinbase less; he said that there is no need for more digital currencies, and that digital fiat currencies are enough; he wants to prove that an crypto token is a security...…
@barrysilbert Barry Silbert on x
@fintechfrank no Proof of Work tokens in any of the lawsuits, I believe (BTC, LTC, XMR, ETC, ZEC, etc.)
@jacksonrperry Jackson Perry on x
@TheStalwart Someone at the SEC listened to the Odd Lots interview @tracyalloway https://storage.courtlistener.com/ ... [image]
@__tux @__tux on x
the sec literally just clicked “tradeable” on coinbase and declarer all the assets on the front page as securities lmao also explains why atom isn't listed lol [image]
@meattc_ @meattc_ on x
Coinbase is a public reporting company. Some of the named assets were trading on the platform when the SEC approved the S-1. This is epic gaslighting. https://twitter.com/...
@mayazi Maya Zehavi on x
What does it tell you about the SEC that we only learn which new coins the SEC thinks are securities with every new lawsuit ? They literally only add to the list via indictments
@dystopiabreaker @dystopiabreaker on x
the SEC is suing the same entity whose S1 they reviewed and approved 2 years ago and who the us government is currently using to market sell billions of dollars of bitcoin through
@ki_young_ju Ki Young Ju on x
Coinbase made every effort to ensure proper regulation. The problem lies in the ambiguity of regulations and guidelines, not with @Coinbase itself. https://twitter.com/...
@jqt_web3vc @jqt_web3vc on x
Idk Alex. Gary Gensler or any future Chair, don't have any powers or authority. Their main role is only to interpret & enforce the laws enacted by Congress. As for those who believe the SEC is out to kill #cryptocurrencies are amateurs, inexperienced & lack knowledge. Full stop. …
@jason @jason on x
All of these coins are securities so logic states the SEC should regulate them like they do private company shares HOWEVER, it's time for the SEC & @GaryGensler to take the OBVIOUS & SIMPLE step of letting Americans take a test to become accredited investors Problem solved! https…
@9gagceo @9gagceo on x
Dear SEC, thank you for your continued support in helping Hong Kong to become the crypto/web3 hub of the world. 🫡 https://twitter.com/...
@jimcramer Jim Cramer on x
While i am no fan about the way Coinbase has conducted itself, i am shocked that the Justice Department has avoided going after Binance which has people acknowledging it is like SBF
@mcuban Mark Cuban on x
There are thousands of financial scams every minute on Twitter. Just scroll and they are everywhere, ripping off investors continuously. Not one of them will be stopped today, tomorrow or the next day. Why is nothing ever done ? https://twitter.com/...
@lulumeservey Lulu Cheng Meservey on x
A comms case study in how to respond to attack. Brian's post is direct, clear, information-dense, jargon-free, and confident. It shows how this affects the whole industry — and rallies crypto behind Coinbase. Nothing like an external threat to unite the wildlings. https://twitter…
@smdiehl Stephen Diehl on x
> “You simply can't ignore the rules because you don't like them or because you'd prefer different ones: the consequences for the investing public are far too great [..] Coinbase was fully aware of the laws [..] but deliberately refused to follow them.” https://qz.com/...
@crypto_mckenna McKenna on x
This is why I moved to the UAE. Calculated all this long before. Nation State Game Theory does not make sense for Western Nations. Emerging Nations will be the most accommodating to crypto which the UAE has already proven to be. https://twitter.com/...
@adamscochran Adam Cochran on x
1/20 Breakdown of the SEC Coinbase complaint: Advocates that since 2019 it's been an unregistered broker (odd year to pick?) What changed in 2019 versus prior years? Also claims its a clearing agency - which is a stretch here. [image]
@coinbase @coinbase on x
Crypto has come a long way. In America, it still has far to go. We're ready. 🛡️ https://twitter.com/...
@eleanorterrett Eleanor Terrett on x
“We'll get the job done. In the meantime, let's all keep moving forward and building as an industry. America will get this right in the end.” - @coinbase CEO @brian_armstrong on today's @SECGov lawsuit. https://twitter.com/...
@newjerseyoag Attorney General Matt Platkin on x
The digital asset market is not a lawless free-for-all where companies can make up their own rules. Today we are taking action against @coinbase. https://www.njoag.gov/...
@adamscochran Adam Cochran on x
1) World of difference in the claims between Binance and Coinbase from the SEC. 2) SEC is claiming they allowed an unregistered broker-dealer to be reviewed, IPO and public trade for years without action or guidance...🤡 Time to get Gensler in front of Congress again.
@smtuffy Sean Tuffy on x
Let's also be clear: Coinbase knowingly continued to operate as an unregistered entity and sell unregistered securities anyway https://twitter.com/...
@matthuang Matt Huang on x
Crypto has never been more under fire and uncool... and so it's never been a better place to be a builder or investor if you know it's the future 🛡️
@matthuang Matt Huang on x
@AutismCapital We haven't dropped crypto... The website now emphasizes the research-driven approach we've always had, and doesn't reflect a pivot away from crypto. We remain as excited and committed to crypto as ever. (Check out our recent investments, research writing, policy wo…
@tuurdemeester Tuur Demeester on x
Coinbase only has a relatively small customer base outside of the United States. Their international expansion feels rather panicky. They seem to have been unprepared for this crackdown. Will Brian and his HQ move abroad? https://twitter.com/...
@iamdcinvestor @iamdcinvestor on x
since multiple people have asked me: there is zero evidence of malfeasance by Coinbase this lawsuit is simply the SEC saying they do not like / approve of Coinbase's business as a crypto exchange imo, there no reason to withdraw funds as a result of this
@qwqiao Qiao Wang on x
BTC barely moved since the Coinbase lawsuit. Unironically the most bullish signal since the collapse of FTX in November last year.
@0xmert_ @0xmert_ on x
SEC is going after Coinbase the most regulatory compliant firm in ALL of crypto, a PUBLIC company, which has created thousands of jobs I know everyone is worried, but Coinbase Legal is world-class and Brian is a killer the SEC made a mistake, they won't win against Coinbase
@davidgura David Gura on x
Commenting on the SEC's lawsuit against Coinbase, the company's chief legal officer says, “We'll continue to operate our business as usual.” $COIN [image]
@progresschamber @progresschamber on x
Today the SEC sued Coinbase after many months of Coinbase asking the agency to develop a process for registration of its platform. Faced with regulatory uncertainty, the company urged the SEC to disclose requirements it could comply with. Our statement: https://progresschamber.or…
@functi0nzer0 Laurence on x
The SEC suing the same company that the US government is selling Bitcoin through is so astonishingly funny I might have a stroke
@grummz @grummz on x
Welp. Coinbase is fucked and so are its users. Gov gets to subpoena all transactions too (all at once, instead of piecemeal like now). Any send/receive address is going to be added to a database for future tracking. https://twitter.com/...
@ben_mckenzie Ben McKenzie on x
Fun fact: Coinbase went public on April 14, 2021. Gary Gensler assumed office on April 17, 2021. Blame him all you want, but the guy doesn't have a Time Machine.
@thecryptolark Lark Davis on x
The attack by the SEC on Binance is an attack on the entire crypto industry. Just as their attacks on XRP, Library, and Coinbase are. Regulation by lawsuit is so stupid it hurts.
@garygensler Gary Gensler on x
I'll be joining @SquawkStreet at 9:10 and @BloombergTV at around 10:30 to discuss crypto and the securities laws.
@autismcapital @autismcapital on x
The SEC is now suing Coinbase. This is a pathetic stain on this country. The SEC approved CB's IPO and now they are just making claims up as they go. They are suing and hoping they can make something, anything. A cast of cowards. An empire in decline. SAD. https://storage.courtli…
@cryptowendyo Wendy O on x
The SEC just went after @coinbase The SEC also approved the Coinbase IPO in 2021 This is contradictory This is predatory This is communism https://storage.courtlistener.com/ ...
@mdudas Mike Dudas on x
obviously we need alternatives to the dollar, euro and yen record debt levels crushing the purchasing power of these currencies ailing economies whose taxes fund the govt's & armies that back the currencies a post-global world of adversarial relations https://www.theblock.co/...
@adamscochran Adam Cochran on x
Coinbase has repeatedly requested, publicly, for details on these rules. It has asked for clarity on assets and products it should or should not list. None were provided. Imagine getting a speeding ticket if it was impossible to figure out the speed limit. https://twitter.com/...
@alexandergrieve Alexander Grieve on x
SEC Chair Gensler on SquakBox: “we already have digital currency. It's called the US dollar.”
@lsukernik Larry Sukernik on x
Jim Barksdale's famed concept of “there are two ways to make money, bundling and unbundling” is coming true with crypto too Monolithic vs modular architecture and back again is a technology story as old as time
@antoniomjuliano @antoniomjuliano on x
Glad we're going after Brian fkin Armstrong, literally the guy trying to be most compliant in crypto for over a decade, while SBF is chillin at his parents house
@joshgiersch @joshgiersch on x
It's not the main thrust of the lawsuit, but SEC v Coinbase very much takes the position that even a hosted wallet that interacts with defi exchanges counts as a brokerage service https://storage.courtlistener.com/ ...
@erikvoorhees Erik Voorhees on x
Here's the head of the SEC promoting an unregistered security. https://twitter.com/...
@udiwertheimer Udi Wertheimer on x
- Coinbase on-boarded millions to bitcoin - Minted many multi-millionaires by giving them trusted access to Bitcoin early on - Helped onboard institutions such as MicroStrategy Seeing laser-eye maxis cheering as the SEC tries to take Coinbase down makes me sick to my stomach
@leomschwartz Leo Schwartz on x
A friendly reminder that Coinbase chief legal officer Paul Grewal is set to testify at a House Committee on Agriculture hearing in *checks watch* one hour https://agriculture.house.gov/ ...
@twobitidiot @twobitidiot on x
I do not respect the SEC under Chair Gensler. We'll be fighting like hell the next 18 months to elect common sense politicians that will restore regular order to the regulatory state. The US needs forward thinking leaders, not incompetent and crooked cops on the beat.
@tphillips Todd Phillips on x
Prediction: Coinbase is the case that goes to the Supreme Court. Don't pay attention to Binance. Stop paying attention to Ripple. Coinbase is what decides the legal issues.
@bamabonds Will Slaughter on x
Looks like someone has an epic misunderstanding of securities laws- though not at all surprising for a crypto moron. You learn on day 1 of Series 7 prep that SEC registration implies no government approval whatsoever of a firm's business model or the legality of its activities. h…
@nathandeandc Nathan Dean on x
Say what you want about @GaryGensler, but launching lawsuits after a comprehensive crypto market structure bill drops and before one of the companies impacted is scheduled to testify on the Hill, it's definitely a way to wake up policymakers.
@spreekaway @spreekaway on x
“If you chase two unregistered securities exchanges, you will lose them both” — ancient proverb https://twitter.com/...
@jacqmelinek Jacquelyn Melinek on x
SEC CHAIR GENSLER VIEWS REGULATION AS A POSITIVE, NOT IMPEDING INNOVATION “Through appropriate regulation of securities markets, for 90 years, we have helped the US economy grow and prosper.” “...Crypto markets are undermining that trust.”
@dogetoshi Steven on x
Attack on staking [image]
@mptherealmvp Maria Paula on x
We're about 23 hours away from the SEC subpoena to Mike Hanlon and the Uniswap Community Global ASIA SYSTEM.
@calvinayre Calvin Ayre on x
I would not be enjoying this so much if not for the fact that CoinBase and Binance have both directly attacked my interests with their crimes. This is in addition to the damage to the general public. But this also frees innovation on Blockchain: https://www.cnbc.com/...
@ldrogen Leigh Drogen on x
And allowed them to go public This is just straight up back alley mob tactics from Gensler, and there are no repercussions for him, he's beyond the law until they go to court where he's gonna get wrecked https://twitter.com/...
@hsakatrades @hsakatrades on x
>SEC sues Coinbase, says operated as an unregistered broker since 2019 >US gov sells billions worth of BTC via Coinbase since 2019
@dogetoshi Steven on x
“The Order gives Coinbase 28 days to show cause why they should not be directed to cease and desist from selling unregistered securities in Alabama. The action is the result of a multistate task force of ten state securities regulators...” [image]
@sh_brennan S. Brennan on x
SEC v Binance as we get news of the draft market structure bill and now dropping this suit before today's ag committee hearing .... is interesting timing... https://twitter.com/...
@abu9ala7 Mohammad on x
You: supports the exchanges against the SEC the exchanges: take the other side of your trade in anticipation of the news release
@theemilyaccount Emily on x
why did the large crypto companies not simply place regulators in sinecures at their firms, while also sending people to work at the regulators? don't blame gensler for a skill issue
@dlauer Dave Lauer on x
This is an important point - once SEC calls them securities, there are registration & disclosure requirements. They specifically cite the concern about selective disclosure. They also point to past enforcement cases establishing security status for assets that continued trading. …
@dlauer Dave Lauer on x
SEC goes after Coinbase: https://storage.courtlistener.com/ ... Looks like operating an unregistered broker, exchange and clearing agency might be a problem. [image]
@toptickcrypto @toptickcrypto on x
NEXO really caught a stray on this one. Coinbase lists hundreds of crypto assets directly, but SEC included NEXO in the 13 specified tokens when it's only available for purchase via dex within the non-custodial coinbase wallet. [image]
@wclementeiii Will Clemente on x
So glad Gensler was meeting with SBF and FTX multiple times while focusing on the real issues that matter: Suing the most regulated publicly traded exchange (enabled by the SEC) that's audited by a top 5 accounting firm. Feeling really protected, thanks Gary.
@lopp Jameson Lopp on x
SEC in their Coinbase lawsuit seems to be claiming that SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO are securities. https://storage.courtlistener.com/ ...
@thestalwart Joe Weisenthal on x
Here's the part where we talk with @brian_armstrong about whether or not Coinbase lists securities [image]
@mdudas Mike Dudas on x
the us government is simultaneously asserting that nearly all cryptocurrencies are securities while attempting to shut down all venues to trade them compliantly while failing to issue any reasonable framework or process for these novel assets to comply with securities regulations
@odell @odell on x
coinbase should have stayed humble and focused on bitcoin rather than dumping a16z backed tokens on retail
@robustus Dan McArdle on x
Nobody wants your “protection”. You sound like a mob-boss, just with more delicate language. https://twitter.com/...
@jwverret J.W. Verret🛡 on x
I asked Chairman Gensler about his failure to create any meaningful path for crypto firms desperately trying to register and comply and he refused to answer. https://twitter.com/... https://twitter.com/...
@dylanleclair_ @dylanleclair_ on x
SEC suing Binance & Coinbase in back to back days. None of this is the slightest bit surprising. Whether you like it or not is a different story - but it's the reality. They were always going to throw the book at this ‘industry’.
@smtuffy Sean Tuffy on x
I have a feeling this ain't exactly they regulatory clarity they were hoping for https://twitter.com/...
@thestalwart Joe Weisenthal on x
Ah indeed. Brian Armstrong's Odd Lots interview cited by the SEC. https://www.bloomberg.com/... https://twitter.com/... [image]
@degenspartan @degenspartan on x
my personal theory is binance too big to be bank runned retail dont know have hw wallets and most dont have a 2nd exchange set up ppl say coinbase but coinbase is mainly just americans that cant use binance anyway
@eleanorterrett Eleanor Terrett on x
4 key complaints from the @coinbase lawsuit: 1. Coinbase has operated as an unregistered broker since at least 2019, evading the disclosure scheme for securities markets. 2. Coinbase has deprived investors of disclosures and protections that come from registration, exposing... ht…
@stephanlivera Stephan Livera on x
“We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler https://www.sec.gov/...
@ryansadams @ryansadams on x
The SEC complaint say https://binance.us/ was controlled by Binance. but let's zoom out, why do we need .US at all? The fact that American's have to settle for shittier versions of exchanges because our patronizing regulators refuse to treat us like adults is the problem.
@quantian1 @quantian1 on x
I like how the defense of Coinbase for a while was “they went public so obviously the SEC already vetted them then”. Hilarious, really. https://twitter.com/...
@cryptoalle Alle on x
woke up and already feeling protected. thank you Gary Gensler https://twitter.com/... [image]
@ki_young_ju Ki Young Ju on x
SEC is going crazy https://twitter.com/...
@pt Parker on x
Mistakes were apparently made... https://twitter.com/...
@mrjasonchoi Jason Choi on x
Interesting decision for Gensler to let FTX slide but go after the most legitimate name in crypto https://twitter.com/...
@ramahluwalia @ramahluwalia on x
The SEC suing Binance & Coinbase only after approving Prometheum is no accident. The SEC is trying to combat the ‘come in and register’ self-inflicted PR wound. Meanwhile it's been 4 years since the SEC update any guidance - before staking, defi, and L2s existed. https://twitter.…
@awawat_trades @awawat_trades on x
I think Gary's mistake is suing literally every player in the space, instead of doing a divide and conquer type strat. Now it's everyone vs the SEC.
@functi0nzer0 Laurence on x
lol lmao [image]
@ap_abacus Andrew on x
SEC complaint is 101 pages long: https://storage.courtlistener.com/ ...
@trustlessstate @trustlessstate on x
BREAKING WE'RE ALL CRIMINALS
@mdudas Mike Dudas on x
the us government doesn't believe you're an adult capable of making your own financial decisions
@tree_of_alpha @tree_of_alpha on x
So which is it? -Coinbase is an unregistered securities dealer. -Coinbase is a publicly-listed company that was already trading assets you claim are securities before you allowed it to IPO. Choose one old man. The absolute SEC mental gymnastics are getting out of hands.
@defiyst @defiyst on x
This + Binance action yesterday. A Ripple case decision must be imminent? https://twitter.com/...
@leomschwartz Leo Schwartz on x
SEC sues Coinbase — here's the full 101-page complaint. Lists the following coins as securities: SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO https://storage.courtlistener.com/ ...
@katie_martin_fx Katie Martin on x
“The Coinbase Platform merges three functions that are typically separated in traditional securities markets—those of brokers, exchanges, and clearing agencies. Yet, Coinbase has never registered with the SEC as a broker, national securities exchange, or clearing agency”
@thestalwart Joe Weisenthal on x
$COIN -11%
@nycsouthpaw @nycsouthpaw on x
The SEC is settling all the family business this week. https://storage.courtlistener.com/ ...
@sassal0x @sassal0x on x
Once again, ETH not listed as a security in the SEC Coinbase suit Apparently being labelled a security is transitory - Gary Gensler is trying to cosplay as Jerome Powell
@sino_market @sino_market on x
US-listed crypto exchange Coinbase falls 5.1% premarket after SEC sues Coinbase in New York federal court. $COIN #Coinbase [image]
@deitaone @deitaone on x
SEC SAYS COINBASE HAS NEVER REGISTERED AS A BROKER, NATIONAL SECURITIES EXCHANGE OR CLEARING AGENCY, EVADING THE DISCLOSURE SCHEME FOR SECURITIES MARKETS $COIN
@mayazi Maya Zehavi on x
Gary upping the ante this week. https://twitter.com/...
@adegboyekaz Adegboyega Kazeem on x
“But cryptocurrencies not securities; they are, to borrow a term from Bloomberg's Matt Levine, magic beans. .....the only cogent theory of their value is the greater fool theory. And magic beans are not the sort of thing the SEC should be regulating” https://www.ft.com/...
@tonytassell Tony Tassell on x
The SEC is wrong about crypto exchanges - really excellent, clear Unhedged column from @rbrtrmstrng cryptocurrencies should be regulated like smoking, gambling or pyramid schemes - “not be granted the dignity of regulation under securities law.” https://www.ft.com/...

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