[arcticbull]

> But Coinbase doesn't host any ICOs! And they reject ICO tokens!

Sorting Coinbase token pairs alphabetically I only had to get as far as AAVE.

> The firm, originally named ETHLend, raised $16.2 million in an initial coin offering (ICO) in 2017, during which time it sold 1 billion units of its AAVE cryptocurrency - originally named LEND. [1]

Coinbase doesn't publish their standards or approaches, and frankly, it's very much in their interests not to declare something a security. I suspect their process is less than rigorous.

> Coinbase doesn't list digital assets that could be considered securities! Someone needs to actually point to what they're doing wrong.

I believe I linked to the document above :) maybe their lawyers would like to give 'er a skim?

[1] https://www.kraken.com/learn/what-is-aave-lend

[joefigura]

Coinbase's position is that that ICO was not an investment contract. Not everything called an ICO is an invetment contract - the point of that SEC page is to provide guidance on when an ICO is an investment contract. Coinbase's lawyers have certainly given that document a skim, they reference it here where they talk about securities law:

https://help.coinbase.com/en/coinbase/privacy-and-security/o...

There is a disagreement of fact - Coinbase says they don't list any securities, and the SEC claims they do and are violating securities law, without providing any specifics. Assuming the SEC goes forward, a court will have to decide.