The post Is the SEC Going to Force Cryptocurrencies into Registering as Securities? appeared first on Coinpedia Fintech News
For a very long time, it has been unclear whether cryptocurrencies should be treated as commodities or securities. And everyone is aware of the Securities and Exchange Commission (SEC)’s position on this. The SEC has often said that most cryptocurrencies are in fact securities, and it has been in a legal battle with Ripple for over two years on the agency’s contention that Ripple’s XRP currency is a security. If the SEC prevails in this action against Ripple, it might be catastrophic for the cryptocurrency industry.
Coinbase’s Plan to Withstand SEC’s Crypto Crackdown
Charles Gasparino of Fox Business has reported that Coinbase has disclosed to Fox that the company has a strategy to withstand a regulatory crackdown on digital assets by the SEC. This strategy involves the use of broker-dealers to trade cryptocurrencies registered as securities.
In May 202
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