Lawyers have challenged a potentially consequential move from the U.S. Securities and Exchange Commission (SEC) to build a list of crypto tokens it considers unregistered securities. jesseahamilton reports
Lawyers have challenged a potentially consequential move from the U.S. Securities and Exchange Commission to build a list of crypto tokens it considers unregistered securities.against a former manager at the company – a maneuver that some believe has importance well beyond the enforcement action.
“The term ‘investment contract’ requires – as the statute says – a contract,” the lawyers wrote. “But here there are no contracts, written or implied.” A spokesman for the SEC didn’t immediately respond to a request for comment, nor did spokespeople from Coinbase. As of last month, Rep. Patrick McHenry is running the House committee that oversees the SEC, and he’s made it clear that he’s planning heavy criticism for the way SEC Chair Gary Gensler is running the agency.
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