SEC and Crypto Startup in Legal Battle Over Crypto's Classification [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Source: Yahoo! Finance
The company aims to clarify that its operations will not violate securities laws, asserting that it intends to facilitate crypto transactions rather than sell securities. In its October 3 brief filed in a Texas federal court, Lejilex accused the SEC of overreaching its regulatory authority, claiming that the agency's view of digital assets as securities represents a "massive regulatory land grab." The firm, part of the Crypto Freedom Alliance of Texas, was established last year and plans to launch its exchange by the end of 2024. The SEC, however, argues that the lawsuit seeks to establish that crypto can never be classified as securities. It raised concerns about Lejilex's standing, noting that the startup has not faced any enforcement actions from the agency. The SEC contends that the classification of a digital asset as a security is not determined solely by the nature of the asset. On October 4, Coinbase's chief legal officer, Paul Grewal, criticized the SEC's contradic
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COIN
Earnings
- 8/1/24 - Miss
COIN
Sec Filings
- 10/2/24 - Form 4
- 9/30/24 - Form 4
- 9/20/24 - Form 4
- COIN's page on the SEC website