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Sell usd coins on coinbase to coinbase pro registration#
The Commission grounds its suit in allegations that 12 of the more than 240 tokens traded on Coinbase’s spot exchange are “securities.” Six of these 12 assets were already on Coinbase when the SEC declared the Company’s registration statement effective. Two years on, the SEC brings this action accusing Coinbase of having failed since 2019 to do just that: register as a national securities exchange, broker, and clearing agency. § 230.461(b), permitted Coinbase’s public offering without once suggesting that Coinbase must register its operations. He SEC, fulfilling its mandate to consider “the public interest and the protection of investors,” 15 U.S.C. The about-faceĬoinbase reminded that the SEC declared their registration statement effective back in April 2021, a process that “followed years of discussions and extensive review and comment on Coinbase’s statement.” The filing further states: The filing states that the value buyers receive through transactions on the platform is in the things traded and purchased rather than the businesses that generated them, which makes them non-securities transactions. Token issuers have no obligations to investors. No sale of a contract-tied assetĬoinbase claimed that the cryptos on its secondary market platform did not involve a promoter selling an asset tied to a contract.
Early Thursday, Coinbase responded that they weren’t securities because they weren’t investment contracts. In the lawsuit, the SEC alleged that some of the cryptocurrencies available on Coinbase’s platform or through its wallet were unregistered securities.
In its first official response to SEC’s lawsuit, US crypto exchange Coinbase claimed the digital assets on the platform are not in the scope of the Commission's jurisdiction.
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