NFT News by Thebittimes.Com

The Securities and Exchange Commission (SEC) has denied the rulemaking petition filed by Coinbase. SEC Chair Gary Gensler says current laws enough for investor proections. Commissioners Hester Peirce and Mark Uyeda have released a statement disagreeing with the Commission’s decision. The Securities and Exchange Commission (SEC) has denied a crypto rulemaking petition filed by US-based crypto exchange Coinbase. SEC Chair Gary Gensler said in a statement published on Friday that he supports the Commission’s decision. He cited three reasons for his outlook on the agency’s latest course of action in relation to the quest for clear regulatory rules. “ I was pleased to support the Commission’s decision for three reasons ,” Gensler stated.  “ 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 impo...

Coinbase’s Chief Legal Officer, Paul Grewal, has once again resorted to a mandamus, compelling the SEC to provide a response to the crypto rulemaking petition submitted by the company. Coinbase is reinforcing its pursuit of a court-ordered directive, pressuring the United States Securities and Exchange Commission (SEC) into taking action on the cryptocurrency rulemaking petition it has put forth. Coinbase is insistent on the issuance of a mandamus within the next 30 days, compelling the SEC to furnish an official response regarding its acceptance or rejection of the petition. The SEC delivered a long-awaited status update on October 12, which offered vague indications, mentioning that “commission staff provided a recommendation” to the SEC regarding Coinbase’s petition without divulging any further details. On October 13, in a post on the platform formerly known as Twitter, Coinbase’s Chief Legal Officer, Paul Grewal, launched a scathing critique against ...