SEC Refuses To Commit Deadline In Coinbase Crypto Clarity Case – Crypto News – Crypto News
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SEC Refuses To Commit Deadline In Coinbase Crypto Clarity Case – Crypto News

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3 years ago

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Crypto News: The US top financial watchdog, the Securities and Exchange Commission (SEC) on Tuesday filed its response to Coinbase’s writ of mandamus seeking clarity on Crypto regulations. It seems that the commission is in no mood to deliver a much needed logical regulation any time soon.

Also Read: Hinman Emails Depicts SEC Fovoured Ethereum Over Other Cryptos

SEC Seeks 4 Additional Months To Reply

As per the court filing, the US SEC stated that it has not decided what action needs to be taken on the rulemaking petition. It added that the order refers to enforcement actions and statements by the SEC Chair, however, it does not demonstrate a decision to reject the exchange’s rulemaking petition. The commission has asked for additional 120 days to reply to the crypto clarity request.

Paul Grewal, Chief Legal Officer of Coinbase mentioned that the US SEC repeated the fallacy that they haven’t decided to take any action to serve new crypto rules. The commission has completely refused to commit to any clear deadline despite facing a court’s explicit order.

It is important to note that the commission has entirely ignored the statements made by its Chair that eventually confirm that they have no intention to issue new clear rules. Coinbase legal chief highlighted that the SEC converged the evidence of a decision of those remarks that provided an argument that the communication is itself a decision. Read More Crypto News Here…

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Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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