Polygon CLO challenges SEC's unregistered securities designations

Quick Take

  • Polygon Labs’ Chief Legal and Policy Officer Rebecca Rettig delves into the SEC’s cases against Coinbase and Ripple.

Episode 79 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Polygon Labs Chief Legal & Policy Officer Rebecca Rettig

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Rebecca Rettig serves as the Chief Legal and Policy Officer at Polygon Labs.

In this episode, Rettig offers a comprehensive analysis of the SEC's ongoing legal proceedings against Coinbase and Ripple, including instances where the Court seems to be challenging the SEC's authority.

Rettig explains, "I think what both the Ripple and the Coinbase motion for judgment on the pleadings is really trying to say is, 'We got to bring it back to the law. This may look like something, but it doesn't look like anything you've seen before.' So we can't import these other ideas where an investment contract means there's some implied contract."

Additionally, she touches on the Court's perspective regarding the SEC's prior actions towards Coinbase: "The judge that [the Coinbase case] is in front of expressed a lot of skepticism about the case because she said to the SEC, 'Didn't you guys let this one go through and allow them to IPO?'"

During this episode Chaparro and Rettig also discuss:

  • Regulatory frameworks for digital assets outside the U.S.
  • The Value Prop and how blockchain is being used for good
  • Why this has been a "bullish" bear market

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