The post David Schwartz Comments Reignite Debate Over Securities Definition in Crypto Space appeared first on Coinpedia Fintech News
Coinbase’s Chief Legal Officer, Paul Grewal, sparked the debate when he asserted that “baseball cards would be securities under the arguments made by the current leadership of the SEC.” This statement led to a flurry of opinions on social media, with one participant recalling a 2017 comment by an SEC staffer who questioned why baseball cards were not considered securities.
Ripple CTO Questions Baseball Cards and Art as Securities
David Schwartz challenged traditional notions, arguing that the value of baseball cards, like other collectibles, is tied to the efforts of promoters and scarcity maintenance. He questioned whether the value of existing cards would drop if a million more were printed, emphasizing the role of promoters in determining scarcity and collectible status.
He also extended his critique to art, challenging the idea that paintings an
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