Caitlin Long, founder of Wyoming-based digital asset bank, Avanti Bank & Trust, has predicted Coinbase’s upcoming IPO will be a “watershed moment” for cryptocurrency regulation.
Speaking alongside SEC commissioner Hester Peirce during BlockFi and Real Vision’s “Bitcoin in the Real World” event on Feb. 5, Long speculated the IPO of the United States’ leading crypto exchange is likely to “force” the SEC’s hand to establish a precedent for many outstanding regulatory issues key to the digital asset sector.
Long emphasized the SEC will examine Coinbase’s prospectus with a “fine-tooth comb,” stating:
“What the world is going to look at when that prospectus goes effective, is that everything that in it is OK with the SEC.”
Noting the recent delistings of Ripple’s XRP token from dozens of exchanges after the SEC alleged it was an unlicensed security offering, Long asserts the IPO will compel the SEC to make firm rulings regarding any other tokens it suspects of…