TechFlow news, March 20 — According to The Block, as the Trump administration takes office and Congress advances related legislation, Coinbase has submitted multiple recommendations to the U.S. Securities and Exchange Commission (SEC), calling for clarification of its regulatory authority over the crypto asset market.
In documents released on Thursday, Coinbase detailed steps the SEC could take, including forms of no-action relief, guidance, or interpretive statements. This follows SEC Commissioner Hester Peirce's establishment of a cryptocurrency task force in February, which solicited industry input on approaches to crypto regulation.
Coinbase presented four main recommendations to the SEC:
- Clarify that digital assets that "do not convey any equity interest in an enterprise" are not securities, but should instead be classified as "digital commodities"
- Recognize congressional authority in defining "appropriate regulatory treatment for digital assets"
- Clarify that secondary market trading of "digital commodities" does not constitute securities transactions
- Focus on enabling stakeholders to tokenize traditional securities
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