Freedom

Read

Coinbase pressured the U.S. Securities and Exchange Commission over precise and transparent crypto regulation on Monday, Sept. 23.
The leading cryptocurrency exchange in the U.S. and the financial regulator clashed in a federal appeals court in Philadelphia, according to a Reuters <a href="https://www.reuters.com/legal/us-sec-coinbase-clash-court-over-crypto-rulemaking-2024-09-23/" target="_blank" rel="noopener noreferrer nofollow">report</a>.&nbsp;
Coinbase urged the SEC to create a better regulatory scene for crypto assets in the U.S.&nbsp;
Last December, Coinbase filed a petition claiming the crypto regulatory framework is “unworkable” but the SEC has already denied it.
On Sept. 23, the exchange added that crypto companies cannot operate in the U.S. due to the SEC’s unreasonable regulations, per the Reuters report.
Coinbase’s lawyer, Eugene Scalia, told the appeals court that the SEC is refusing to provide information “on how to register with the agency and comply with U.S. laws.”
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/analysts-predict-bitfarms-stock-doubling-after-riot-settlement/"> Analysts predict Bitfarms stock doubling after Riot settlement </a>
On the other hand, SEC lawyer Ezekiel Hill argued that the regulator should not have to create a new set of rules for Coinbase if the company “wants to arrange its business in a way that does not comply with the existing regulatory framework.”
The judges said that the SEC is taking a cautious approach toward rulemaking but pressured the agency on “why cryptocurrency was not one of them.”
The SEC <a href="https://crypto.news/sec-sues-coinbase-just-hours-after-binance/" target="_blank" rel="noopener noreferrer nofollow">sued</a> Coinbase last year for failing to register as a broker while operating in the country. Moreover, the regulator claimed that the exchange’s staking program and over 10 digital assets available on the platform were securities.
Three weeks later, on June 27, Coinbase <a href="https://crypto.news/coinbase-sues-sec-and-fdic-over-freedom-of-information-requests/" target="_blank" rel="noopener noreferrer nofollow">sued</a> the SEC and the Federal Deposit Insurance Corporation for refusing to provide the requested information under the Freedom of Information Act.
Coinbase and the SEC are <a href="https://crypto.news/sec-coinbase-clash-over-broad-subpoena-requests-in-ongoing-legal-battle/" target="_blank" rel="noopener noreferrer nofollow">clashing</a> over the securities allegations in a separate lawsuit.&nbsp;
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/kamala-harris-on-crypto-first-public-statement/"> Kamala Harris on crypto: Dem nominee makes first public statement on the industry </a>

Coinbase, SEC battle over clear crypto regulation

crypto.news

2024년 9월 24일에 게재된 다른 기사

SEC Charges Anthem Holdings & CEO with $5M Crypto Fraud

Hedera Joins MiCA Crypto Alliance with Ripple and Aptos, Launches Asset Tokenization Studio

Coinpedia Fintech News

Ripple Launches Major Token Series for RLUSD Stablecoin Testing

Coinbase Versus SEC: Top Exchange Onboards Top Litigator Ryan VanGrack

BNY targets crypto ETF custody post-SAB 121 review

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!