Coinbase Denies Listing Securities Amid SEC Insider Trading Case

Coinbase Denies Listing Securities , Amid SEC Insider Trading Case.

NBC reports that Coinbase has pushed back against claims from the Securities and Exchange Commission (SEC) that it offers unregistered securities.

NBC reports that Coinbase has pushed back against claims from the Securities and Exchange Commission (SEC) that it offers unregistered securities.

The pushback comes amid fraud charges against a former employee of the company.

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On July 21, a former Coinbase product manager was charged with wire fraud in connection with an alleged insider trading scheme.

On July 21, a former Coinbase product manager was charged with wire fraud in connection with an alleged insider trading scheme.

The insider trading case involving cryptocurrencies was the first of its kind.

The former employee has been charged with plotting to profit from listings on the Coinbase platform before they were publicly announced.

On July 21, a separate complaint filed by the SEC claims that nine of the 25 tokens allegedly involved with the scheme were securities.

Paul Grewal, Coinbase's chief legal officer, denied the allegations in a blog post titled “Coinbase does not list securities.

End of story.”.

Seven of the nine assets included in the SEC’s charges are listed on Coinbase’s platform.

None of these assets are securities, Paul Grewal, Coinbase's chief legal officer, via NBC.

Coinbase has a rigorous process to analyze and review each digital asset before making it available on our exchange — a process that the SEC itself has reviewed, Paul Grewal, Coinbase's chief legal officer, via NBC.

NBC reports that both regulators and crypto firms have argued over whether some cryptocurrencies should be considered securities.

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NBC reports that both regulators and crypto firms have argued over whether some cryptocurrencies should be considered securities.