Coinbase's Chief Legal Officer, Paul Grewal, spoke to lawyer John Deaton on his podcast CryptoLaw about the exchange's decision to continue offering Algorand (ALGO) despite the U.S. Securities and Exchange Commission (SEC) classifying it as a security. Grewal explained that secondary sales of assets do not make them securities, but Deaton argued that the same argument applies to XRP tokens. XRP was suspended from trading on Coinbase due to it being classified as a security under U.S. law, causing frustration among XRP holders who feel penalized. Grewal reiterated Coinbase's commitment to upholding the rule of law equally for everyone and believes crypto exchanges and projects must team up to withstand the SEC.
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Coinbase Chief Legal Officer discusses decision to continue offering Algorand despite SEC classification as a security
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