Feb 5, 2021 10:23 UTC
Feb 5, 2021 at 10:23 UTC
Coinbase initial public offering a ‘watershed moment’ for crypto regulation: Caitlin Long
The chief operating officer of pioneering digital bank Avanti Bank & Trust, Caitlin Long, has expected the forthcoming Coinbase initial public offering can force regulators to produce clarity to the crypto sector.
Caitlin Long, founding father of Wyoming-based digital plus bank, Avanti Bank & Trust, has expected Coinbase’s forthcoming initial public offering are going to be a “watershed moment” for cryptocurrency regulation.
Speaking aboard SEC commissioner Hester Peirce throughout BlockFi and Real Vision’s “Bitcoin within the Real World” event on Feb. 5, Long speculated the initial public offering of the United States’ leading crypto exchange is probably going to “force” the SEC’s hand to ascertain a precedent for several outstanding restrictive problems key to the digital plus sector.
Long stressed the SEC can examine Coinbase’s prospectus with a “fine-tooth comb,” stating:
‘What the planet goes to seem at once that prospectus goes effective, is that everything that in it’s happy with the SEC.”
Noting the recent delistings of Ripple’s XRP token from dozens of exchanges when the SEC alleged it absolutely was Associate in Nursing unaccredited security giving, Long asserts the initial public offering can compel the SEC to create firm rulings relating to the other tokens it suspects of being securities that area unit presently commercialism on Coinbase:
“To the extent that there area unit securities that haven’t been deemed securities nonetheless, however they really area unit, and they are commercialism on the Coinbase platform […] I feel that the initial public offering will form of force the difficulty.”
Despite positing that the crypto community are going to be receiving bigger clarity on key problems thanks to Coinbase’s initial public offering, Long stressed that, “It’s not about to be essentially as black and white as we have a tendency to all hope, however we’ll get tons a lot of clarity.”
Following years of speculation across the crypto community, Coinbase discovered plans to travel public throughout the primary quarter of this year in December when filing a draft registration with the SEC.
Last week, Coinbase discovered it’s seeking to conduct its public giving by direct listing instead of a typical initial public offering, permitting the firm’s shareholders to sell their stock on to the general public while not lock-ups.