SEC lists nine crypto tokens on Coinbase as securities

The Securities and Exchange Commission (SEC) has listed nine cryptocurrencies on Coinbase as securities.

This was contained within a complaint arresting and charging a former Coinbase employee and two others with wire fraud.

The assets were: AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, KROM. They were each mentioned in connection with alleged insider trading.

While clearing Bitcoin and Ether, the SEC has sued Ripple for allegedly selling unregistered securities, referring to the token XRP.

The complaint today implies that the SEC is largely keeping with the view that the majority of cryptocurrencies are securities.

Coinbase responded to the SEC filing with a blog post of its own, claiming that laws in the US are not keeping up with the digital world and need fixing.

It has submitted a petition to the SEC that it should develope rules for what it describes as “digital asset securities.”

Coinbase further said that if the SEC encouraged crypto adoption while providing sensible regulation, the US would reap the rewards.

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