Coinbase's Chief Legal Officer is spreading a falsehood.
27 Feb 2023, 21:46
Coinbase's Chief Legal Officer is spreading a falsehood.
The First Circuit just found that mere holdings -- even without efforts or marketing statements -- make something a security.
Many assets on Coinbase meet this standard. We wish this wasn't true, but it is. From ruling:
Expecting profits from a couple of guys’ efforts doesn’t by itself turn a commodity or anything else into a security. The Supreme Court and lower courts have rejected any such notion— over and over again.