Coinbase has been asking SEC for years to lay out clear regulatory rules with which they will be able to properly run their own business. They seem to be very transparent about how they're doing the business, what they're listing and their staking program, and they have to be transparent as a publicly listed company, yet Gensler and company doesn't help them with any guidance or reassurance, but only hits them with new lawsuits.
According to Coinbase they met with them just in 2022 over thirty times looking for some guidance related to what they can and can't list and they still can't give them a proper answer. The test with which they're determining if the tokens they're listing are, or are not securities was made in 1946, so that is clearly as outdated as it can be.
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