The growing battle between Coinbase, one of many greatest U.S. cryptocurrency buying and selling platforms, and the Securities and Trade Fee has me questioning what precisely the crypto individuals are hoping to attain. If something, their brazen strategy appears more likely to get them extra of the regulation they’ve been looking for to keep away from.
For a monetary establishment with a market worth of greater than $50 billion, Coinbase is to date remarkably freed from regulation. The cryptocurrencies that commerce on the alternate haven’t been categorised as securities, which the SEC oversees, or as derivatives, which the Commodity Futures Buying and selling Fee oversees. In consequence, it doesn’t face the requirements for security, soundness and investor safety that the regulators impose on exchanges beneath their purview.