The US Securities and Exchange Commission (SEC) has announced that it will be able to respond to Coinbase’s request for rule clarity in the cryptocurrency market within an average of 4 months.
SEC calls for more clarity on cryptocurrency exchange Coinbase 4 months later announced that he could respond. However, the U.S. Court of Appeals rejected the SEC’s request from Coinbase. to respond for 7 days but the deadline expired, and the SEC argued that regulatory clarity could not be achieved in such a short time.
Coinbase on US-specific cryptocurrency regulations more clarity against the SEC case opened and during the court continued to press. But it seems that this answer is given end of summer will stay.
On the other hand, the SEC’s response Is it good or bad for the industry? It’s hard to predict what will happen.
When we look at the details of the explanation on the subject, there is no question about what kind of action they will take yet. indecisive the visible SEC front, within 7 days as well as the request to answer belittled. In its previous statement on the subject, the SEC stated that it is not obliged to respond to Coinbase’s request.
Coinbase has no right or authority to compel the SEC to take action within seven days. The SEC has yet to decide how to act on all or part of this petition. This is perfectly reasonable given the breadth of the petition and the fact that it was filed only months ago and was recently completed by Coinbase.
Stating that it is aware that Coinbase is trying to circumvent existing rules by requesting new rules, the regulatory body said that whatever the cryptocurrency exchange is. must comply with existing laws stressed that.
About the topic on social media in the comment Coinbase Chief Legal Officer Paul Grewalstated that the SEC had a meddlesome stance despite the court’s express order. However, SEC employees Gary Gensler He claimed that he did not see the clear statements made by the President as a decision or interpreted it differently.