They want to try to prevent lawsuits from their customers.
Agree, it is PR, they know it is a security and they have been able to get away with selling unregistered securities for so long, that they do have a legit reason to question why the SEC is just now starting to do their job.
I wonder if Texas will extend the decentralized 'enforcement' nature of the abortion bill also to those selling unregistered securities?
If you do not have to be directly harmed in order to sue Coinbase for breaking the law, you didn't have to wait for the state to actually enforce the laws that is...
I don't think that is good policy, but if we are going to do it with abortion, why not extend it to money transmission and securities laws?
https://twitter.com/rschmied/status/1433148462518792192