Coinbase uses the top judgment as a defense against the SEC to combat regulation of cryptocurrencies

Coinbase uses the top judgment as a defense against the SEC to combat regulation of cryptocurrencies

Coinbase, one of the leading crypto bonds, defends itself in a current legal dispute against the US security supervisory authority SEC and refers to a recently issued judgment of the Supreme Court on the issuance of student loans. The complaint of the SEC against Coinbase was submitted on June 6th and accuses the stock exchange to operate a non -registered securities business. Coinbase, on the other hand, claims that the SEC wants to exaggerate control over the digital currency industry.

In defense, Coinbase relies on the judgment of Biden v. Nebraska, in which it was found that the US Minister of Education exceeded his powers when he issued a student's debt of around $ 430 billion. This judgment underlines the fact that government agencies need the express support of the congress when decisions of considerable economic or political importance. Coinbase argues that this also applies to your case, since the legislator has so far not set a clear legal framework for the cryptocurrency industry.

Coinbase questions the regulatory authority of the SEC and argues that the SEC does not have the necessary "clear authorization of the congress" in order to regulate digital currencies. The company bases its argument on the ongoing consultations of the congress on regulatory framework conditions, including a non -partisan draft law that prefers the Commodity Futures Trading Commission to the SEC.

The SEC looks at digital currencies such as SOL, ADA and Matic as regulated securities and accuses Coinbase without working properly. Coinbase, on the other hand, defends itself against the over -regulation of the SEC and argues that their sudden changes in directives have led to damage to the company and its shareholders without adequate announcement.

The legal dispute between the Sec and Coinbase is part of a larger conflict between the Sec and the entire crypto industry. As early as the end of 2020, the SEC filed a lawsuit against Ripple, in which the sale of XRP was charged as non -registered security. The SEC is chaired by Gary Gensler, who was criticized for his "regulation through enforcement". Gensler believes that the existing securities laws are sufficient to regulate cryptocurrencies, with the exception of Bitcoin, which he does not consider as securities.

The provisional hearing between the SEC and Coinbase in a New York court heralds the beginning of a possibly lengthy process. However, the ongoing consultations of the congress on the regulation of digital currencies give the industry hope for more transparent and more comprehensive regulatory framework.

The outcome of the legal dispute between the SEC and Coinbase will have a significant impact on the cryptocurrency industry and the regulation of digital currencies in the United States. Coinbase is committed to adequate regulation in this struggle and hopes for the support of the congress to prevent excessive control by the SEC.