The North American Securities Administrators Association (NASAA) has filed a brief in support of the Securities and Exchange Commission (SEC) in its lawsuit against cryptocurrency exchange Coinbase. NASAA, a non-profit association representing securities regulators in the US, Canada, and Mexico, argues that the SEC’s position that certain crypto assets on Coinbase are securities and subject to regulation is consistent with existing securities laws. NASAA rejects Coinbase’s attempt to narrow the definition of a security and asserts that the Howey test, a long-standing method for determining whether an asset is a security, should apply to cryptocurrencies. The lawsuit, initiated by securities regulators in ten states, alleges that Coinbase allowed trading of digital assets that qualify as securities without registering as a national securities exchange. A ruling in favor of the SEC could have significant implications for the regulation of the crypto industry, subjecting many digital assets and related products to stricter oversight.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇨🇦 🇲🇽 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | Securities and Exchange Commission (SEC), North American Securities Administrators Association (NASAA), Coinbase |
| Currencies | None Trading |
| Securities | None |
