Caitlin Long, founder of Wyoming-based digital asset bank, Avanti Bank & Trust, has predicted that Coinbase’s upcoming IPO will be a “turning point” for cryptocurrency regulation.
Speaking along with SEC Commissioner Hester Peirce at BlockFi and Real Vision’s “Bitcoin in the Real World” event on Feb. 5, Long speculated that the IPO of the leading crypto exchange in the United States will likely “force” the SEC to enter a Set a precedent for many outstanding regulatory issues that are critical to the digital assets sector.
Lang stressed that the SEC will investigate Coinbaseprospectus with a ‘fine comb’, which states:
“What the world is going to look at when that prospectus goes into effect is that everything in it is in order with the SEC.”
In light of the recent deletion of Ripple’s XRP token from dozens of exchanges after the SEC claimed it was security offering without a licenseLong claims the IPO will force the SEC to make hard statements regarding other tokens it suspects are securities currently traded on Coinbase:
“As far as there are securities that have not yet been considered securities, but they are, and they are traded on the Coinbase platform […] I think the IPO is somewhat enforcing the problem. ”
Despite claiming that the crypto community will gain clarity on important issues as a result of the Coinbase IPO, Long stressed that, “It won’t necessarily be as black and white as we all hope, but we will get a lot more clarity.”
After years of speculation in the crypto community, Coinbase unveiled plans to go public in December in the first quarter of this year. filing a draft registration with the SEC.
Last week, Coinbase revealed it wants to make its public offering through direct offer instead of a typical IPO, which allows the company’s shareholders to sell their shares directly to the public without any lock-ups.