Coinbase's Chief Legal Officer, Paul Grewal, has expressed concerns about the inconsistent stance of the U.S. Securities and Exchange Commission (SEC) on the classification of cryptocurrencies. Grewal highlighted the SEC's contradictory arguments in different court cases regarding whether crypto assets should be classified as securities. He criticized the agency for telling one judge that crypto assets are not like tangible assets, implying they are likely to be securities, while arguing the opposite in another case. Grewal emphasized that this inconsistency raises questions about fairness and transparency in the regulatory process. The SEC's recent appeal in the Ripple case, challenging the classification of XRP as a non-security, also drew backlash from Grewal. He questioned why the SEC would ask an appellate court to clarify the law if it is as clear as the agency claims.



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