SEC’s Coinbase Insider Trading Case Called ‘Backdoor Rulemaking’ by Trade Association CEO

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  • The SEC’s case against Coinbase for insider trading is being referred to as “backdoor rulemaking” by the CEO of a trade association.
  • The government agency is piggybacking off of the DOJ’s case.
  • The SEC is using the case to define some tokens as securities.
  • This was stated by Perianne Boring, the founder of the Chamber of Digital Commerce, in an interview with “First Mover.”
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