- Industry participants believe there is a lack of regulatory clarity in crypto markets.
- Coinbase took the SEC to court in hopes of clearing the fog.
- A recent court order may force the SEC to disclose whether it would engage in rulemaking finally.
Industry participants often describe the state of crypto regulations in the United States as unclear. However, U.S. Securities and Exchange Commission Chairman Gary Gensler has begged to differ in recent statements. According to Gensler, the rules have always been clear, but the crypto industry does not want to comply.
In July 2022, amid the back-and-forth over whether policymakers need to create new rules for the nascent market, Coinbase filed a petition urging the SEC to clarify its process for classifying crypto asset securities.
Receiving no response and faced with the threat of enforcement action, the crypto exchange took things a step further in April 2023,…
