Odaily News The U.S. Securities and Exchange Commission (SEC) argued in a federal court case against Coinbase that cryptocurrencies lacked any inherent or intrinsic value. The SEC said in its filing: Cryptoassets themselves have no inherent or intrinsic value - -It is linked to its underlying value, which in the case of the crypto-assets involved in this case is an investment contract”. Paul Grewal, Chief Legal Officer of Coinbase, countered: “The SEC’s argument today means that everything from Pokemon cards to stamps to Swiftie bracelets are securities. This is simply not the law, nor should it be the law.” ( Decrypt)