Can Coinbase Drag US SEC To Provide Clear Crypto Rules After This?

Coinbase News: Coinbase Global Inc (NASDAQ: COIN), the U.S. biggest crypto exchange has gained the support of the U.S. Chamber of Commerce in the fight to gain regulatory clarity from the Securities and Exchange Commission (SEC).
Also Read: CZ Seeking To Dump Binance.US Stakes Amid CFTC Probe
Coinbase Gains Upper Hand Against US SEC
As per the court filings, the U.S. Chamber of Commerce has submitted Amicus Brief in support of Coinbase’s writ of Mandamus against the SEC. The group has called out the SEC for acting “unlawfully” in the digital asset ecosystem.
This filing becomes important a the U.S. Chamber of Commerce claims to be the world’s largest business federation. It approximately represents 300k direct members, while it indirectly represents the interests of over 3 million businesses and professionals.
The filings mentioned the chamber’s members hold a strong interest in regulatory clarity around the crypto. However, its several members are companies that are subject to U.S Securities laws that may be affected by the commission’s ongoing approach to the crypto market.
Also Read: GALA To Go Against Coinbase After PEPE Community?
The Chamber had raised three very important arguments in the brief. First, it mentioned that Regulatory uncertainty is killing innovation in the country. Second, the SEC is destabilizing the digital assets regulatory environment. Third, the watchdog is SEC is violating Constitutional Due Process and Fair Notice rights.
However, the Chamber in a statement declared that the SEC’s actions are not harmful policy, they are unlawful and the consequence of the commission’s regular delay are severe that reason too.
It mentioned that the Coinbase petition filed back in July 2022 to initiate a rulemaking around crypto assets securities has gone unaddressed. The SEC has expressed no interest to answer the request. Meanwhile, the commission’s chair asserted that the laws are unambiguous as applied blockchain based digital assets.
Also Read: Ripple Exec Bids For EU’s MiCA Amid US SEC Crackdown; Ripple Moving Out?
- Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
- 99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying