Coinbase submitted multiple proposals to the U.S. SEC, calling for clarification of its regulatory authority over crypto assets

ChainCatcher news, according to The Block, with the Trump administration taking office and Congress advancing related legislation, Coinbase has submitted multiple proposals to the U.S. Securities and Exchange Commission (SEC), calling for clarification of its regulatory authority over the cryptocurrency market.

In a document released on Thursday, Coinbase outlined the steps the SEC could take, including forms of no-action relief, guidance, or clarification. Previously, SEC Commissioner Hester Peirce established a cryptocurrency working group in February and sought industry input on regulatory approaches to cryptocurrency.

Coinbase made four main recommendations to the SEC:

1. Clarify that "digital assets that do not convey any enterprise rights are not securities" and should be considered "digital commodities."
2. Acknowledge that Congress defines "the appropriate regulatory treatment of digital assets."
3. Clarify that "secondary market trading of digital commodities is not considered securities trading."
4. Focus on allowing stakeholders to tokenize traditional securities.