Consequently, Coinbase has requested the SEC ‘to start a process where the public and key stakeholders can transparently provide input into the agency’s work on crypto.’ He adds:
Crypto represents the next wave of innovation within the markets themselves — and whatever country encourages that innovation while also keeping investors safe will reap enormous benefits.
We need the SEC to once again write the rules that will unleash the potential of U.S. capital markets, this time fueled by the benefits provided by crypto.
Coinbase’s petition for an all-inclusive approach toward crypto asset security rule-making comes on the same day a former employee at the exchange was charged with insider trading. The SEC has also filed a complaint against the individual, his brother, and his friend, accused of illegally using confidential information on token listings to maximize their trading profits.
The complaint by the SEC goes as far as classifying nine digital tokens related to insider trading as crypto asset securities.