US Senator Cynthia Lummis has filed an amicus brief supporting Coinbase in its ongoing legal battle against the Securities and Exchange Commission (SEC), accusing the agency of exceeding its authority and undermining congressional oversight.
The Wyoming Republican, a long-time advocate for crypto, described the SEC’s enforcement-driven regulatory strategy as a violation of constitutional principles.
Amicus brief
In her filing with the US Court of Appeals for the Second Circuit, Lummis criticized the SEC’s approach under former Chair Gary Gensler, which she said involved reinterpreting securities laws without transparency or consultation.
According to Lummis
“The SEC’s tactics disregard the Constitution’s separation of powers and jeopardize the innovation and growth of digital assets.”
The SEC initiated a lawsuit against Coinbase in 2023, alleging the company operated as an unregistered broker, exchange, and clearinghouse. However, the exchange has contested these claims, as
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