United

Chair

Circuit

Gary

<p>The post <a href="https://coinpedia.org/news/coinbase-files-legal-action-against-sec-for-crypto-regulation-oversight/">Coinbase Takes SEC to Court Over Crypto Regulation: Here’s All You Need to Know</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a crucial moment for the United States’ cryptocurrency scene, <a href="https://coinpedia.org/crypto-live-news/sec-denies-coinbases-petition-for-crypto-securities-framework/">Coinbase</a>, the nation’s biggest cryptocurrency exchange, is getting ready for a courtroom showdown with the U.S. Securities and Exchange Commission (SEC). This legal tussle, happening in the Third Circuit court, has thrown the ongoing talk about cryptocurrency regulation into the spotlight.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Today the SEC denied Coinbase’s petition for rules for crypto. After 18 months of silence, we went to court to get the response the law requires. With appreciation for the Third Circuit, later today we'll again seek its help by challenging the SEC’s abdication of its duty. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/tFjiW53eF7">pic.twitter.com/tFjiW53eF7</a></p>— paulgrewal.eth (@iampaulgrewal) <a href="https://twitter.com/iampaulgrewal/status/1735716481541996640?ref_src=twsrc%5Etfw">December 15, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-understanding-the-crypto-clash">Understanding the Crypto Clash </h2> 
<p>Coinbase’s Chief Legal Officer, Paul Grewal, made a bold announcement about the company’s move to confront the SEC in court. This comes after the SEC dragged its feet for 18 months, refusing to provide the much-needed regulatory guidance.</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“After 18 months of silence, we went to court to get the response the law requires. With appreciation for the Third Circuit, later today we’ll again seek its help by challenging the SEC’s abdication of its duty.”</em></p> 
</blockquote> 
<h2 class="wp-block-heading" id="h-sec-takes-a-defensive-stance">SEC Takes a Defensive Stance </h2> 
<p>Under <a href="https://coinpedia.org/news/sec-denies-coinbases-request-for-new-crypto-rules-chair-gary-gensler-supports-decision/">Chair Gary Gensler</a>, the SEC firmly defended its stance, based on existing laws and regulations for crypto securities markets. Gensler emphasized the Commission’s discretion in setting rulemaking priorities, stressing the importance of sticking to established rules.</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones; the consequences for the investing public are far too great.”</em></p> 
</blockquote> 
<p>Read More About This: <a href="https://coinpedia.org/news/sec-denies-coinbases-request-for-new-crypto-rules-chair-gary-gensler-supports-decision/">SEC Denies Coinbase’s Request For New Crypto Rules; Chair Gary Gensler Supports Decision</a></p> 
<p><strong>Coinbase Refuses to Back Down</strong></p> 
<p>Despite the SEC’s denial, Paul Grewal restated Coinbase’s commitment to challenging the decision. He highlighted the lack of clarity in current regulations and the need for more straightforward guidelines.</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“No one looking fairly at our industry thinks the law is clear or that there isn’t more w</em>ork to do.”</p> 
</blockquote> 
<h2 class="wp-block-heading" id="h-looking-at-the-broader-implications"><strong>Looking at the Broader Implications</strong></h2> 
<p>The clash between Coinbase and the SEC reflects the broader tensions surrounding cryptocurrency regulation in the U.S. While Coinbase wants clearer rules for the industry’s growth, the SEC is focused on enforcing existing securities laws, prioritizing investor protection. This clash underscores the urgent need for clear regulatory frameworks in the cryptocurrency industry.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/crypto-events-for-january-2024-bitcoin-etf-verdict-coinbase-sec-battle-set-to-define-cryptos-future/">Crypto Events For January 2024: Bitcoin ETF Verdict &amp; Coinbase-SEC Battle Set to Define Crypto’s Future</a></p> 
<p>This ongoing dispute reveals the intricate interplay between innovation in the digital currency space and the traditional regulatory landscape. The outcome of this legal battle has the potential for far-reaching implications on the future of cryptocurrency regulation in the United States.</p> 
<p><strong>Is the SEC stifling crypto innovation, or protecting investors?</strong> <strong>Tell us what you think.</strong></p>

Coinbase Takes SEC to Court Over Crypto Regulation: Here’s All You Need to Know

목차

CoinPedia News

2023년 12월 16일에 게재된 다른 기사

SEC Preps for Virtual Tech Inspection of Binance.US Systems as Battle Intensifies

Terra Classic Price Prediction As Correction Halts at $0.00016, Will Uptrend Resume?

Top 5 Crypto To Buy Right Now Before They Skyrocket

Top Ripple Executive Makes 3 Cryptocurrency Predictions for 2024

Aave (AAVE) Price Prediction – Could Meme Moguls (MGLS) Overtake Litecoin (LTC)?

Breaking: Cathie Wood’s Ark Invest Extends Coinbase And GBTC Selling Spree

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!