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Is the SEC slamming Coinbase?

The U.S. Chamber of Commerce called out the Securities and Exchange Commission (SEC) on Thursday, slamming the financial watchdog for its regulatory approach toward the digital asset industry. It filed an amicus brief in support of Coinbase, which took the SEC to court last month.

Why does the Chamber of Commerce support Coinbase vs SEC?

In the amicus brief filed in the case of Coinbase vs. SEC, the Chamber of Commerce said that it supports Coinbase as it seeks to get regulatory clarity on what a security is in the eyes of the SEC.

Why did the US Chamber of Commerce file an amicus brief?

The U.S. Chamber of Commerce has filed an amicus brief to support Coinbase and the digital assets sector as the crypto exchange demands that the Securities and Exchange Commission (SEC) respond to its request for clarity on crypto asset regulation.

Is sec'refusal' to respond to Coinbase harmful?

Directly addressing this point, the Chamber of Commerce claimed that SEC’s “refusal” to respond to Coinbase or “otherwise engage in any rulemaking” isn’t just harmful; it is in fact,unlawful. “The SEC’s actions are not just harmful policy; they are unlawful; and the consequences of the SEC’s continued delay are severe for that reason too."

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