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by pavlov
943 days ago
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> "Coinbase even had their IPO approved by the SEC." The SEC reviews the disclosures being made by the company that's filing for public listing, not the legality of their business model. You can go look at the Coinbase IPO filing [1]. Under the heading "Summary of risk factors", it reads: "A particular crypto asset’s status as a 'security' in any relevant jurisdiction is subject to a high degree of uncertainty and if we are unable to properly characterize a crypto asset, we may be subject to regulatory scrutiny, investigations, fines, and other penalties, and our business, operating results, and financial condition may be adversely affected." Nowhere does it say "the SEC has approved our operations, it's all good!" On the contrary, Coinbase is saying that the assets they offer on their exchange may be viewed as securities and it may eventually result in fines or penalties. That's disclosure. - - [1] https://www.sec.gov/Archives/edgar/data/1679788/000162828021... |
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