SEC Asked Court to Reject Coinbase Demand of Rules Explanation
Last month, Coinbase sued the SEC claiming that the agency hasn’t been prompt or reasonable in providing a response. Furthermore, the exchange is seeking a formal notice-and-comment process that would allow the public to weigh in. advertisement In its court filing on Monday, May 15, the SEC called Coinbase’s allegations “baseless”. In its filing, the Commission’s lawyers wrote: “Coinbase’s preference for faster or different regulatory action by the commission does not entitle it to extraordinary relief from this court. The petition should be denied.” SEC chief Gary Gensler has been repeatedly stating that most of the digital assets in the market are securities as per the existing rules. However, crypto players have responded by stating that the SEC should not use the same rulebook in dealing with digital assets, as it uses for traditional assets. Trending Stories Cardano Pr...