Chief Legal Officer Paul Grewal stated that there are many crypto projects that are securities, but these projects are not listed on Coinbase.
Turbulent days and processes continue in the cryptocurrency market. SEC managed to attract attention with their moves on BUSD and Paxos. Securities allegations on BUSD and Paxos’ failure to report it brought Binance to the top of the ball. However, Binance stated that it is not an issuer on BUSD. In the midst of all these processes, striking statements came from Coinbase legal officer Paul Grewal.
Coinbase Legal Officer: No Securities Project on Our Exchange
The lack of regulatory and supervisory clarity in the crypto industry has begun to change due to recent moves by the SEC. The SEC wants to put some weight towards the crypto industry.
The SEC investigation into BUSD issuer Paxos has also spread to Binance. Binance CEO Changpeng Zhao (CZ) stated that one should not be deceived by various news of fear and panic.
While these legal processes and securities claims continued, a move came by the Coinbase legal officer. Paul Grewal, the chief legal officer of the exchange, underlined that Coinbase is only looking for consistency.
Referring to the influence of US regulators on cryptocurrencies, Grewal attributed their comfort with the SEC to the fact that they do not list any securities as an exchange. Grewal also said:
“There should be no distinction between securities and non-securities, that we must agree that the rule of law does not matter, and that Congress has the SEC’s jurisdiction in securities and securities, yet we must come and register,”
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