X @Bankless

Regulatory Landscape - Coinbase CLO argues Base, a Layer 2 blockchain, should not be regulated as an exchange [1] - Coinbase asserts it is not matching buyers and sellers of securities on Base [1] - The matching of buyers and sellers occurs in applications (AMMs/CLOBs/auctions) built on the Layer 2, not the Layer 2 itself [1] Technical Perspective - Base is described as a normal blockchain and a Layer 2 solution [1]