Coinbase Denies Listing Securities On Platform, SEC Claims Otherwise

The U.S. Securities and Exchange Commission (SEC) claimed in a new court filing that at least nine digital assets listed on the Coinbase crypto exchange are unregistered securities. However, Coinbase denied the agency’s claim saying that the platform does not list any securities. Coinbase Does Not List Securities The U.S. Securities and Exchange Commission (SEC) used its first insider-trading case to declare nine digital tokens as “securities.” The nine crypto assets in question are: Power Ledger’s POWR token, Flexa’s AMP token, Rally’s RLY token, DerivaDEX’s DDX token, XY Labs’ XYO token, Rari Capital’s RGT token, Liechtenstein Cryptoassets Exchange’s LCX token, DFX Finance’s DFX token, and Kromatika Finance’s KROM token. The move comes just before the securities regulator filed a complaint on Thursday, alleging a former Coinbase product manager engaged in insider trading by giving his brother and friend tips on which assets the exchange planned to list in the near future. The regulatory agency also stated that nine of the crypto assets listed were securities. However, Coinbase denied those claims saying that none of those listed assets are securities. “Coinbase has a rigorous process to analyze and review each digital asset before making it available on our exchange, a process that the SEC itself has reviewed,” the company clarified. “This process includes an analysis of whether the asset could be considered to be a security...