The US Securities and Exchange Commission (SEC) again denied Coinbase’s repeated call for new crypto regulation.
In a statement, SEC Chair Gary Gensler said the securities agency denied Coinbase’s petition for new digital asset regulation. According to the SEC, the existing rules are in place and are sufficient.
Rules Already in Place According to SEC
The SEC denied crypto exchange Coinbase’s repeated call for an updated crypto regulatory framework. In a December 15 statement, Chairman Gary Gensler said he supported the decision, arguing that an existing framework is in place. According to Gensler:
“I was pleased to support the Commission’s decision for three reasons. First, existing laws and regulations apply to the crypto securities markets. Second, the SEC addresses the crypto securities markets through rulemaking as well. Third, it is important to maintain Commission discretion in setting its own rulemaking priorities.”
Gensler added:
“Thus, to the extent that
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