SEC Postpones Decision On Coinbase
The U.S. Securities and Exchange Commission (SEC) has deferred making a decision on Coinbase’s proposal for clearer crypto regulation, despite the petition’s filing in July 2022.
This delay marks a pattern of procrastination from the regulator, raising concerns within the crypto community.
Coinbase’s Chief Legal Officer, Paul Grewal, expressed frustration over the SEC’s latest move, interpreting it as further stalling.
The SEC has also actively pursued legal actions against cryptocurrency companies, such as the recent lawsuit against Kraken, accused of operating an unregistered securities exchange.
This move follows a similar pattern to the lawsuit filed against Coinbase earlier this year, suggesting a systematic approach by the SEC towards major crypto exchanges.
Crypto industry figures like Cameron Winklevoss and Bloomberg ETF analyst James Seyffart have commented on the SEC’s actions, expressing support for the exchanges and anticipating further setbacks for the SEC.
(With inputs from Shikha Singh)
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