When the SEC accused a former Coinbase employee of insider trading last month, it specifically named nine cryptocurrencies as securities, potentially opening the door to regulation for the rest of the industry. But there are some notable new points of emphasis in the case against the former Coinbase employee. For one thing, the suit appears to distance the agency from a 2018 speech by then-SEC Director of the Division of Corporation Finance Bill Hinman, said Meghan Spillane, a partner Goodwin’s Digital Currency & Blockchain Technology practice. Spillane said the SEC doesn’t appear to be considering any of that in the current case. “Basically the analysis is kind of frozen in time. And none of the allegations seem to account for how projects grow and develop over time,” she said. Read the Protocol article here.
In The Press August 08, 2022