No it doesn’t. They’ve literally told them in the past when they were creating financial products that they were securities. Their entire schtik is to say
“We called it something different so it’s not a security.”
SEC: “Yes it is.”
Coinbase: “The SEC won’t engage with us and tell us what aspects of our business is a security.”
SEC: “1) that’s not how securities law works, you’re the one that has to hire lawyers 2) we already told you you were offering a security”
“We called it something different so it’s not a security.”
SEC: “Yes it is.”
Coinbase: “The SEC won’t engage with us and tell us what aspects of our business is a security.”
SEC: “1) that’s not how securities law works, you’re the one that has to hire lawyers 2) we already told you you were offering a security”
Coinbase: “We’re being persecuted!”