Coinbase Chief Legal Officer: The SEC itself did not follow the Welsh process and did not explain which assets were securities
2024-05-14 05:56:08
On May 14, Coinbase Chief Legal Officer Paul Grewal tweeted that the Securities Exchange Commission (SEC), in a brief to avoid the dismissal of its lawsuit against Debt Box, admitted that it did not follow the Welsh process when it refused to tell us which assets would be charged as securities. We did not receive any detailed explanation of which assets could lead to securities transactions, and were not told which assets were in question at all. In our case, why did the government not follow its classic procedure?
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