Coinbase CEO paulgrewal.eth posted on X platform stating that when cryptocurrency assets or cryptocurrency-related investment plans are offered or sold in the form of investment contracts, securities laws apply, in a letter to the US Congress by Chairman of the US Securities and Exchange Commission Gary Gensler. In addition, Gary Gensler told the US Congress on May 6, 2021 that there is no regulatory framework for exchanges trading cryptocurrency assets.
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Coinbase CLO: Gary Gensler to US Congress: Securities laws apply to crypto assets involved in investment contracts
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