Cryptocurrency

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/coinbase-continues-legal-battle-against-sec-for-clarity-on-cryptocurrency-regulations/" data-wpel-link="internal">Coinbase Continues Legal Battle Against SEC for Clarity on Cryptocurrency Regulations</a><br></p>
<p style="text-align: justify">Coinbase, one of the leading <a href="https://en.coin-turk.com/bithumb-adds-new-trading-pairs-for-ar-and-ens/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/gemini-predicts-growth-in-cryptocurrency-market-over-the-next-two-years/" data-wpel-link="internal">cryptocurrency</a> exchanges in the United States, is fighting at the federal appellate court in Philadelphia against the Securities and Exchange Commission (SEC), which has refused to create new rules for cryptocurrencies.</p> 
<h2 id="coinbase-s-request-for-rule-making">Coinbase’s Request for Rule Making</h2> 
<p style="text-align: justify">In its 2022 application to the SEC, Coinbase sought clarity on when cryptocurrencies would be classified as securities, requesting the establishment of a dedicated market structure for cryptocurrencies.</p> 
<p style="text-align: justify">The company argues that the existing securities laws are outdated and unworkable for the cryptocurrency industry.</p> 
<h2 id="sec-s-reasons-for-denial">SEC’s Reasons for Denial</h2> 
<p style="text-align: justify">In December 2023, the SEC denied Coinbase’s request, stating that current regulations are sufficient and that new rules are unnecessary. The agency believes cryptocurrencies can be evaluated under existing securities laws.</p> 
<h2 id="implications-of-the-legal-struggle">Implications of the Legal Struggle</h2> 
<p style="text-align: justify">Coinbase claims that the SEC’s stance has created regulatory uncertainty in the <a href="https://en.coin-turk.com/partnership-boosts-financial-inclusion-in-africa/" data-wpel-link="internal">cryptocurrency market</a> and has made compliance challenging for companies operating in the U.S. The company believes that establishing clear rules would benefit the industry.</p> 
<p style="text-align: justify">This situation can be seen as escalating tensions between the cryptocurrency industry and regulators, creating ambiguity for companies within the sector. The ongoing debate regarding how cryptocurrencies should be regulated could significantly impact the legal framework for the cryptocurrency sector in the U.S.</p> 
<p style="text-align: justify">Coinbase’s legal battle is expected to set a precedent for other companies in the sector and may contribute to clarifying the regulatory environment. The lack of clear regulations in the cryptocurrency industry complicates compliance for companies and poses risks for investors. Coinbase’s fight could play a critical role in determining how digital assets will be regulated in the future. Collaboration between regulators and industry representatives is deemed essential for supporting innovation and ensuring market security.</p> 
<p>The post <a href="https://en.coin-turk.com/coinbase-continues-legal-battle-against-sec-for-clarity-on-cryptocurrency-regulations/" data-wpel-link="internal">Coinbase Continues Legal Battle Against SEC for Clarity on Cryptocurrency Regulations</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Coinbase Continues Legal Battle Against SEC for Clarity on Cryptocurrency Regulations

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