News list for " investment contracts"
Coinbase CEO Paulgrewal.eth posted on the X platform that Gary Gensler, Chairperson of the Securities Exchange Commission, addressed the U.S. Congress today that securities laws apply when crypto assets or crypto-related investment plans are offered or sold as investment contracts. Additionally, Gary Gensler told the U.S. Congress on May 6, 2021 that the Securities Exchange Commission does not have a regulatory framework for exchanges that trade crypto assets.
Crypto exchange Kraken on Thursday filed a response to the Securities Exchange Commission's letter in April regarding the company's motion to dismiss the case, saying the agency failed to identify "any investment contracts in which transactions, intermediation, or settlements are (or may be) conducted on Kraken." The filing notes that the Securities Exchange Commission has repeatedly used terms such as investment "concept" and "ecosystem" in its arguments, rather than "investment contract" and "...
Coinbase is taking issue with the Securities Exchange Commission's broad application of the term "investment contract" to cryptocurrency trading, arguing that this interpretation goes beyond legal limits and threatens innovation in the digital asset space.
