{"id":153794,"date":"2023-09-11T23:25:28","date_gmt":"2023-09-11T17:55:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=153794"},"modified":"2023-09-11T23:25:28","modified_gmt":"2023-09-11T17:55:28","slug":"coinbase-warns-us-lawmakers-ahead-of-gary-gensler-hearing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/coinbase-warns-us-lawmakers-ahead-of-gary-gensler-hearing-crypto-news\/","title":{"rendered":"Coinbase Warns US Lawmakers Ahead Of Gary Gensler Hearing – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Ahead of the Gary Gensler hearing before the US Senate Banking Committee on September 11, 2023, crypto exchange Coinbase<\/a> criticized the U.S. Securities and Exchange Commission\u2019s (SEC) regulation by enforcement only approach. On Tuesday, September 12, 2023, the senate committee on banking, housing and urban affairs will conduct a full committee hearing<\/a> on the US SEC\u2019s oversight.<\/p>\n

Also Read: FTX Filing Details $199 Mln Sam Bankman-Fried Real Estate Empire<\/strong><\/a><\/p>\n

<\/p>\n

US SEC\u2019s Enforcement Based Crypto Approach<\/h2>\n

The crypto exchange had warned that the only way to avoid risking the loss of jobs in the industry is to take an immediate legislative approach to out an end to the SEC\u2019s overreach. It said<\/a> the regulatory uncertainty of the enforcement only approach puts 4 million jobs at risk by 2030. The regulation by enforcement is putting the US at risk of losing out on 1 million developer jobs and 3 million related non-technical jobs over the next 7 years as web 3.0<\/a> development shifts overseas, the exchange explained in the statement.<\/p>\n

\n

\u201cA legislative approach to creating crypto regulation is the best way to ensure consumer protection, and also ensure that digital asset innovation and the jobs created by it remain in the US.\u201d<\/p>\n<\/blockquote>\n

Coinbase too was a victim of the agency\u2019s anti-crypto enforcement actions. In June 2023, the exchange was accused<\/a> of operating as an unregistered broker, exchange, and clearing agency.<\/p>\n

<\/p>\n

XRP Lawsuit Verdict: Will It Come Up During Hearing?<\/h2>\n

<\/p>\n

It remains to be seen if the lawmakers would bring up the US SEC\u2019s recent loss in the XRP lawsuit, wherein Judge Analisa Torres ruled that Ripple\u2019s sale of tokens to retail buyers is not a securities transaction. Earlier, the agency has filed<\/a> a reply memorandum of law in further support of its interlocutory appeal in the Ripple lawsuit.<\/p>\n

Following the Senate hearing, Gary Gensler is scheduled<\/a> to speak at a virtual fireside chat event at the 15th Anniversary Lehman Collapse Conference.<\/p>\n

Also Read: Crypto Market Selloff: Here\u2019s Why ETH, XRP, SOL Prices Falling Sharply<\/strong><\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com\/BitcoinReddy <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content 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.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ahead of the Gary Gensler hearing before the US Senate Banking Committee on September 11, 2023, crypto exchange Coinbase criticized the U.S. Securities and Exchange Commission\u2019s (SEC) regulation by enforcement only approach. On Tuesday, September 12, 2023, the senate committee on banking, housing and urban affairs will conduct a full committee hearing on the US […]<\/p>\n","protected":false},"author":2,"featured_media":153795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-153794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=153794"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153794\/revisions"}],"predecessor-version":[{"id":153797,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153794\/revisions\/153797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/153795"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=153794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=153794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=153794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}