Coinbase Chief Legal Officer Paul Grewal pointed out that
The SEC stated in the footnote of the amended complaint against Binance that
"Crypto Asset Securities" does not mean that the crypto assets themselves are securities,
and expressed regret for the possible confusion,
but the SEC has long insisted that tokens are securities, which is questioned as misleading the court.
The SEC considers that ten crypto assets in the secondary market are still sold as investment contracts according to the Howey case standard,
and crypto assets are the subject matter of investment contracts.
