SEC denies Coinbase’s plea for clear crypto regulations
According to a Dec. 15 release, the U.S. Securities and Exchange Commission has rejected Coinbase’s request for transparent crypto rules. This follows Coinbase’s filing of a narrow action in federal court that would compel the U.S. Securities and Exchange Commission (SEC) to respond yes or no to a July 2022 petition asking the SEC to use its formal rulemaking process. Regulating investments by any name On Dec. 15, Chairman Gary Gensler announced the SEC’s denial of Coinbase’s Rulemaking Petition, citing three reasons: existing laws already apply to crypto securities markets, the SEC addresses crypto securities markets through rulemaking, and the need to preserve Commission discretion in establishing rulemaking priorities. NEW: The @SECGov has denied @coinbase’s petition for the agency to create transparent rules of the road for # crypto . The is SEC standing firm on its belief that “existing laws and regulations already apply to the crypto securities m...
