One particular inconsistency Grewal points out is how the Securities and Exchange Commission’s request for crypto exchanges to register as national securities exchanges clashes with Coinbase’s explicit policy of not listing securities:
“For there to be no distinction drawn between the products that are securities and the products that aren’t, is effectively saying that we would have to agree that the rule of law doesn’t matter and that even though Congress limited the SEC’s jurisdiction to securities and securities alone, we should come in and register anyway,” Grewal said.
Source: The Block: Coinbase just wants the SEC to follow the rule of law
