The coin base share loses 14 %because the legal status of cryptoassets is questioned

The coin base share loses 14 %because the legal status of cryptoassets is questioned

The coinbase share opened at the beginning of the trading session on Tuesday in view of the continuing volatility on the cryptom market and the increasing regulatory uncertainty by 14 % lower.

The lawsuit "Could be a catalyst" for the sale, said David Tawil, President and co -founder of Prochain Capital. "However, I believe that it is a distraction maneuver. These nine tokens will probably make Coinbase very little sales now or in the future."

Coinbase explained that it does not list securities - all the tokens traded on the platform are analyzed and checked internally to ensure this.

"We are confident that our strict care process - a process that the SEC has already checked - keeps securities away from our platform, and we look forward to working with the SEC on this matter," Paul Grewal, Chief Legal Officer at Coinbase, told Blockworks.

Coinbase was not listed as a defendant in the lawsuit against the former product manager and his employees, who announced the SEC on July 21. The crypto industry has largely referred to the classification of nine tokens as securities as "regulation through enforcement".

"The Sec is a real fight here," said Tawil. "What about these nine coins compared to the others who were traded, which they regarded as 'securities' for the Sec?"

Analysts Marketbeat still classified as "moderate purchase", unchanged.

coin was rank 22 on the fidelity list of top purchases and sales on Tuesday, with 559 purchase orders and 308 Sales from 10:18 a.m.