- The SEC has responded to Coinbase’s lawsuit.
- The regulator’s response has frustrated community members.
- Some users have questioned Coinbase’s decision to tough it out in the U.S.
As uncertainty continues to dominate the crypto regulatory scene in the United States, Coinbase has chosen to act as the industry’s lead advocate.
Fearing that the current U.S. crypto regulatory trajectory would drive innovation abroad, the crypto exchange has engaged in extensive lobbying and advocacy efforts.
Coinbase took its efforts a step further in April by suing the U.S. Securities and Exchange Commission over a lack of clarity on what digital assets constitute securities, seeking a “yes or no” answer to a July 2022 petition for crypto rulemaking. The SEC’s response, however, has left much to be desired.
The SEC Responds
In a court filing on Monday, May 15, the SEC asked the Third Circuit of the U.S….
