The legal tensions between Coinbase and the US Securities and Exchange Commission (SEC) have gained another angle, with the crypto exchange accusing the SEC of regulatory ambiguity and arbitrary enforcement practices.
Coinbase Challenges SEC’s Denial
Leading crypto exchange Coinbase has escalated its legal dispute with the SEC by filing an opening brief to the Third Circuit Court of Appeals. This move is aimed at challenging the SEC’s denial of Coinbase’s petition for crypto-specific rulemaking and urging the initiation of a comprehensive regulatory process.
The lawyers presented,
“The SEC lacks statutory authority to extend the existing securities regime to digital assets. But, if the SEC insists on plowing ahead without congressional authorization, that decision must be made and implemented through prospective rulemaking.”
In its filing, Coinbase accuses the SEC of violating the Administrative Procedures Act by rejecting the exchange’s petition without providing ad
We współpracy z: https://cryptodaily.co.uk/2024/03/sec-under-fire-coinbase-alleges-law-breaking
