SEC Under Fire Over Anti-Crypto Policies

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As a seasoned crypto investor with a decade-long journey through the digital asset landscape, I can’t help but feel a sense of anticipation and hope as the legal battle between Coinbase and the SEC unfolds. My personal experience has been marked by countless instances where regulatory uncertainty has cast a shadow over the industry, making it challenging to navigate with confidence.

In simpler terms, Jake Chervinsky, the top legal advisor at crypto-focused investment company Variant Fund, has expressed that the Securities and Exchange Commission (SEC) has faced criticism in front of the Court of Appeals for the Third Circuit.

It’s long overdue for the SEC to stop their illegal tactic of enforcing rules through regulation. Perhaps the Third Circuit could be the one to take action on this issue.

On Tuesday, the digital currency trading platform Coinbase presented their views to the Third Circuit Court in their dispute with the Securities and Exchange Commission (SEC). The firm criticized the SEC for what it deemed as an unreasonable and inconsistent rejection of Coinbase’s request for rulemaking.

The judges on the appellate court allegedly questioned the Securities and Exchange Commission (SEC) intensely about their decision to not prioritize creating regulations for digital assets.

According to Paul Grewal, the top legal official at Coinbase, the Securities and Exchange Commission (SEC) has not provided a satisfactory or logical reason for their rejection. He emphasized that “regulation through enforcement” only harms American consumers, technological advancement, U.S. competitiveness, and our country’s security.

It’s important to mention that the outcome of the panel’s decision remains uncertain at this point. As reported by Dave Michaels from The Wall Street Journal, though, it appears that the SEC posed more challenging questions towards themselves rather than the exchange during the hearing.

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2024-09-24 11:50