The parts of the SEC's case against Coinbase that are actually dangerous for the firm will proceed, but Coinbase's wallet app is safe.
If the SEC's argument that most cryptocurrencies are securities under U.S. law prevails in court, it would limit who can hold them, or use the new asset class.
It would also be an existential threat to the exchange — and, in fact, the cryptocurrency industry itself . "When intermediaries don't register, it's investors who get hurt and the American financial markets that suffer. We will continue to protect investors against risks in the crypto markets when, as here, the securities laws are implicated," the SEC said in a statement sent Axios.: "Having now carefully considered the parties' arguments ...
"We were prepared for this, and we look forward to uncovering more about the SEC's internal views and discussions on crypto regulation," Paul Grewal, Coinbase's chief legal officer, postedThat app that lets users interact with various blockchains and send cryptocurrency easily. The company does not mention it as a source of revenue, however, in its most recentThe SEC's case will proceed, which doesn't necessarily mean that the court agrees with the agency.
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