🧑⚖️SEC v. Coinbase🧑⚖️
Coming to a courtroom near you soon™️? Last week, @coinbase announced its receipt of a Wells notice from @SECGov targeting:
1️⃣ Unspecified Digital Assets
2️⃣ Coinbase Earn
3️⃣ Coinbase Prime
4️⃣ Coinbase Wallet
www.bankless.com/coinbase-suit...
📺 Previously on SEC v. Everyone
Kraken settled with the SEC on accusations its staking service was an unregistered securities product.
The result?
No precedent set, Kraken forks over $30M, and retail loses access to a staking solution in the US.
twitter.com/CoinDesk/status/16...
🗝️ Key Moment
Coinbase met with the SEC 30 times over 9 months in an attempt to develop regulatory frameworks.
The agency's refusal to cooperate and Coinbase's determination to fight the case makes future enforcement action highly likely.
twitter.com/iampaulgrewal/stat...
⚠️ Crucial Outcomes
Regulatory clarity comes from two forms: legislative action or legal precedent.
Ramifications of a Coinbase loss could hamper access to digital assets, see staking declared a security, and limit custody solutions for institutions and retail!
⚔️ Fight For Crypto
Not a multi-billion dollar crypto institution but still looking to prevent regulatory overreach? Don’t stay silent: the regulatory assault is here and we need all hands on deck.
Tips n tricks to wage war in tomorrow's newsletter 🚨
Get caught up with the latest $COIN coverage and discover why crypto needs its behemoth institutions to fend off regulatory inquisitions in today's newsletter written by @JackInabinet 🫡
👇Tap In👇
www.bankless.com/sec-v-coinbas...
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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