Coinbase Denies Listing Securities , Amid SEC Insider Trading Case.<br />NBC reports that Coinbase has pushed back against <br />claims from the Securities and Exchange Commission <br />(SEC) that it offers unregistered securities.<br />NBC reports that Coinbase has pushed back against <br />claims from the Securities and Exchange Commission <br />(SEC) that it offers unregistered securities.<br />The pushback comes amid <br />fraud charges against a former <br />employee of the company. .<br />On July 21, a former Coinbase product manager <br />was charged with wire fraud in connection <br />with an alleged insider trading scheme.<br />On July 21, a former Coinbase product manager <br />was charged with wire fraud in connection <br />with an alleged insider trading scheme.<br />The insider trading case <br />involving cryptocurrencies <br />was the first of its kind.<br />The former employee has been charged <br />with plotting to profit from listings on the Coinbase <br />platform before they were publicly announced.<br />On July 21, a separate complaint filed by the <br />SEC claims that nine of the 25 tokens allegedly involved with the scheme were securities.<br />Paul Grewal, Coinbase's chief legal officer, <br />denied the allegations in a blog post titled <br />“Coinbase does not list securities. End of story.”.<br />Seven of the nine assets included <br />in the SEC’s charges are listed <br />on Coinbase’s platform.<br />None of these assets are securities, Paul Grewal, Coinbase's chief legal officer, via NBC.<br />Coinbase has a rigorous process <br />to analyze and review each digital <br />asset before making it available <br />on our exchange — a process <br />that the SEC itself has reviewed, Paul Grewal, Coinbase's chief legal officer, via NBC.<br />NBC reports that both regulators and crypto firms <br />have argued over whether some cryptocurrencies <br />should be considered securities. .<br />NBC reports that both regulators and crypto firms <br />have argued over whether some cryptocurrencies <br />should be considered securities.
