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Former SEC counsel: Claiming ‘nearly all digital assets are securities’ ignores ‘complexity’

By Legal Newsline Report | Tuesday, Jun 20, 2023 @ 1:20pm

Coy Garrison, a partner at Steptoe and Johnson LLP and former counsel to U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, said in his testimony during a Congressional hearing on digital assets last week that blanket statements classifying most digital assets as securities or non-securities neglects the “complexity” of the question, which is at the heart of several ongoing lawsuits against cryptocurrency exchanges.
Crypto insiders confused over SEC targeting Coinbase: 'Why would you go after the most compliant company of the industry?'

By Legal Newsline Report | Tuesday, Mar 28, 2023 @ 4:50pm

The U.S. Securities and Exchange Commission (SEC) notified Coinbase, the largest cryptocurrency exchange in the U.S., of an upcoming enforcement action earlier this month. Coinbase's chief legal counsel explained in a blog post that Coinbase has tried repeatedly to get regulatory clarity from the SEC, but the SEC has not been communicative, and many industry insiders have expressed confusion over the SEC's move. Sandeep Nailwal, co-founder of the blockchain platform Polygon, said he doesn't understand why the SEC would target a company that has demonstrated its eagerness to comply with regulations.