The SEC considers the “full set of contracts, expectations, and understandings” as securities.
Coinbase’s Paul Grewal questioned how come the SEC didn’t bring ETH under its crosshairs.
Ripple CLO Stuart Alderoty asked the SEC to admit that it has become a “twisted pretzel of contradictions.”
Coinbase Chief Legal Officer Paul Grewal has called out the Securities and Exchange Commission (SEC) for what he perceives as inconsistent treatment of cryptocurrencies, particularly in comparison to Ether.
In a post on X (formerly Twitter), Grewal highlighted footnotes in the Binance vs. SEC case where the regulator reportedly “regrets any confusion it may have invited” by repeatedly stating that tokens themselves are securities. The agency clarifies that by “securities,” it refers to the “full set of contracts, expectations, and understandings centered on the sales and distribution” of a cryptocurrency.
In the Binance case, the SEC specifically identified ten cryptocurrencies — SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI — as securities. The regulator argues that these assets and their associated activities haven’t changed significantl…
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