Paul Atkins

Chair

Kinesis Silver

Circuit

Earlier this week, a three-judge panel in the Third Circuit ruled in favor of [popover-profile type="company" name="coinbase"] Global Inc. (NASDAQ: COIN) in its legal fight against the U.S. SEC. The SEC had accused Coinbase of operating as an unregistered national securities exchange, broker, and clearing agency.But what does this ruling mean for the future of crypto regulation in the U.S.?Coinbase <a href="https://www2.ca3.uscourts.gov/opinarch/233202p.pdf" rel="noopener noreferrer nofollow">argued that</a> under SEC Chair [popover-profile type="person" name="garygensler"]’s leadership, the agency has failed to provide clear and specific regulatory guidance for the cryptocurrency industry. The company also criticized the SEC for using outdated rules that don’t fit with the modern world of<a href="https://coinpedia.org/beginners-guide/what-is-blockchain/" rel="noopener noreferrer nofollow"> blockchain </a>and digital assets. Coinbase believes these outdated regulations are hurting the <a href="https://coinpedia.org/beginners-guide/what-is-web-3-0/" rel="noopener noreferrer nofollow">U.S. Web3 sector.</a><h2 class="wp-block-heading" id="h-could-this-ruling-help-binance">Could This Ruling Help Binance?</h2>The SEC has brought similar charges against Binance Holdings, accusing the exchange of operating as a securities exchange, broker, and clearing agency without the required approval. After the recent ruling in the <a href="https://coinpedia.org/news/sec-vs-coinbase-why-the-sec-postponed-the-coinbase-case-and-why-it-matters/" rel="noopener noreferrer nofollow">Coinbase case</a>, which ordered the SEC to provide a clearer explanation of <a href="https://coinpedia.org/cryptocurrency-regulation/" rel="noopener noreferrer nofollow">crypto regulations</a> under federal securities law, Binance filed a notice of supplemental authority.Previously, <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.294.0_2.pdf" rel="noopener noreferrer nofollow">Binance</a> had tried to get the SEC’s case dismissed, arguing that there was not enough evidence to show that digital assets violated the Howey test. On top of that, the U.S. Congress has yet to provide clear guidelines on crypto, leaving the regulatory environment uncertain for both Coinbase and Binance. [post_titles_links postid="406510"] <h2 class="wp-block-heading" id="h-trump-s-government-amp-crypto-policies">Trump's Government &amp; Crypto Policies</h2>As the Biden administration nears the end of its term, many in the cryptocurrency industry are already looking to what could come under the Trump administration. President Trump has appointed <a href="https://coinpedia.org/news/who-is-david-sacks-and-why-has-donald-trump-made-him-crypto-czar/" rel="noopener noreferrer nofollow">David Sacks </a>as the AI and crypto Czar and <a href="https://coinpedia.org/news/ripple-vs-sec-will-paul-atkins-end-the-decade-long-lawsuit/" rel="noopener noreferrer nofollow">Paul Atkins</a> as the new Chair of the U.S. SEC.Experts are optimistic about the incoming administration’s plans for cryptocurrency. Trump has promised several executive orders on his first day, including creating a <a href="https://coinpedia.org/news/when-will-the-bitcoin-strategic-reserve-be-officially-approved/" rel="noopener noreferrer nofollow">strategic Bitcoin reserve</a> and ending the debanking of crypto companies. With these changes, many in the industry believe that most of the ongoing crypto-related legal cases will soon be resolved.<blockquote class="wp-block-quote">“The entire market is relieved. We have a seismic shift in the approach and tone of the government and regulatory agencies,” Frank Chaparro, an early Bitcoin adopter noted.</blockquote> [article_inside_subscriber_shortcode title="Never Miss a Beat in the Crypto World!" description="Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more." category_name="News" category_id="6"] With these changes on the way, the cryptocurrency industry is hopeful for clearer rules and a more favorable regulatory environment.

Coinbase Victory Forces SEC to Clarify Crypto Regulations: What Next?

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