Blog

Coinbase Chief Legal Officer Paul Grewal not too long ago took a playful jibe on the U.S. Securities and Exchange Commission’s (SEC) stance on what’s a safety. Grewal not too long ago shared photographs of a Green Bay Packers certificates and the buying and selling card that includes its former Head Coach Bart Starr. In a publish on X, he not directly hinted on the SEC’s declare of treating crypto as a safety amid the continuing Coinbase vs. SEC case.

Coinbase CLO Continues Opposing SEC’s Remarks On Crypto As A Security

In this newest tweet, Grewal famous that the Green Bay Packers membership deemed a safety whereas the Bart Starr buying and selling playing cards aren’t a safety. The Coinbase CLO wrote, “Both are an investment of money for access to an ecosystem. Both are based on promotion by the issuer with much hope that number go up. One is a security. The other is not.”

Grewal wittily hinted on the ongoing tokens vs. securities warfare that encompasses Ripple and Coinbase amongst different notable entities within the crypto area. However, the Coinbase CLO’s publish attracted combined responses. While some agreed with Grewal and used their wit to offer comparable examples, some believed that the CLO made a fallacious comparability.

The feedback included these whereby individuals expressed that a number of laws bind the Green Bay Packers inventory whereas the playing cards aren’t, which is why the latter isn’t thought of a safety. In addition, a remark accused Coinbase CLO of underestimating the choose’s intelligence.

Also Read: Ripple CTO Addresses XRPL AMM Vote Amid Community Queries

Paul Grewal’s Stand On SEC Lawsuit Against Crowd Machine

Earlier, Grewal opposed a courtroom ruling favoring the SEC in a lawsuit towards Crowd Machine Compute Tokens, reigniting the tokens vs. securities debate. In a January 24 publish on X, Grewal questioned the tokens being deemed as securities. Moreover, he criticized the Northern California court ruling in SEC’s favor amid a pending Southern District of New York ruling for the Coinbase vs. SEC lawsuit.

Though Grewal labeled the defendants within the SEC case as “fraudsters,” he cautioned towards the federal government making false statements in courtroom attributable to such accused entities. Grewal expressed concern that such actions might confuse Americans about laws after the SEC dragged Coinbase and Ripple to the courtroom.

Moreover, he expressed robust criticism towards the SEC for creating ambiguity round its authorized stance. Furthermore, to spotlight the challenges in understanding the SEC’s place on what’s a safety, the Coinbase CLO emphasised the necessity for readability in figuring out the regulation for securities.

Also Read: Binance and SEC Dispute Escalates Over Evidence Production

✓ Share:

CoinGape contains an skilled group of native content material writers and editors working around the clock to cowl information globally and current information as a reality relatively than an opinion. CoinGape writers and reporters contributed to this text.

The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.