The SEC filed a lawsuit against Coinbase this morning, just 45 minutes before the House Agriculture Committee was scheduled to test F-I. The bill is actually quite interesting and quite important it will provide for the very first time a real market structure for digital assets including both digital asset commodities and digital asset securities. It will provide a pathway for registration, serious oversight, real protection for consumers and investors. A lot of the things that we have been clamoring for for many months if not many years in the industry.
The SEC is showing all of its cards. Gary Gensler doesn't want the crypto industry to exist at all. After yesterday's Binance suit, the SEC is going after Coinbase too.
We brought on Coinbases's Legal Officer, Paul Grewal to hear how Coinbase plans to fight, how you, Bankless listener, can join the fight, and what's next for the crypto industry. Should we be optimistic?
0:00 Intro 3:09 Coinbase Sued 4:42 Timing 6:50 What Does the SEC Want? 9:08 Gary's Confidence 10:38 SEC's Token/Security Choices 12:34 Will Coinbase Delist Tokens? 14:35 Freezing Coinbase Assets? 15:26 Next Steps 17:05 Future Court Case 18:20 What to be Optimistic About? 19:52 How to Join the Fight 21:02 Closing & Disclaimers 21:45 Coinbase Video https://twitter.com/coinbase/status/1666135834062467083?s=20
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures
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