The US Chamber of Commerce has expressed its support for Coinbase in its legal battle with the SEC over its proposed lending product.
U.S. Chamber of Commerce Backs Coinbase in SEC Fight
The US Chamber of Commerce has expressed its support for Coinbase in its legal battle with the SEC over its proposed lending product. The Chamber filed an amicus brief in which it criticized the SEC for its lack of clarity and consistency in regulating digital assets.
In the brief, the Chamber argues that the SEC is harming the economy and innovation by creating uncertainty and confusion for investors and businesses. The Chamber aso argues that the SEC's actions could have far-reaching implications for the broader crypto industry, and that the agency's regulatory overreach could stifle innovation and growth in the sector. Additionally, they suggest that the SEC's approach to regulation may be overly burdensome and could hinder legitimate businesses from operating in the space.
While the outcome of the case remains uncertain, the Chamber's support for Coinbase is likely to be seen as a positive development for the cryptocurrency industry as a whole, and may help to shape future regulatory decisions in the sector.
