The US Securities and Exchange Commission has filed a lawsuit against Coinbase – in what appears to be the latest turn of events. The proposal comes a day after the Securities and Exchange Commission (SEC) also filed a lawsuit against Binance.
The two heavy cryptocurrencies are under some serious fire, but a closer look at the lawsuit against Coinbase reveals some interesting details.
- One of the most interesting findings (or lack thereof) in the SEC’s lawsuit against Coinbase is the list of altcoins they consider to be securities.
- the filing is reading:
From the time of their first offering or sale, each of these crypto assets has been offered and sold, and continues to be offered and sold today, as an investment contract and therefore a security.
- From there, the SEC goes on to name 13 altcoins (in a non-exhaustive list), which includes the likes of ADA, MATIC, SOL, and more. For the full list, please take a look at our latest report here.
- The curious thing is that the SEC has failed to even mention XRP for Ripple. There is literally no mention of it.
- Remember, the SEC is also waging a legal battle against Ripple – the company behind XRP. The agency claimed that Ripple conducted an unregistered sale of a security (XRP).
- It is entirely possible that the SEC simply missed XRP in its latest claim, but it also leaves the door open to speculation regarding the ongoing case against Ripple.
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