BlockNews
  • CRYPTO
  • FINANCE
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • CRYPTO
  • FINANCE
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews
Home CRYPTO

Coinbase Accuses SEC of Stifling Crypto Industry Without Clear Rules

by Sham
May 31, 2024
in CRYPTO, Politics
A A
Coinbase Accuses SEC of Stifling Crypto Industry Without Clear Rules
1
SHARES
Share on XShare on RedditTelegram
  • Coinbase accused the SEC of purposefully trying to destroy the crypto industry by refusing to provide clear rules and regulations.
  • Coinbase claimed the SEC is creating a “Catch-22” situation where crypto firms are expected to comply with securities laws, but the SEC won’t provide needed rulemaking.
  • The dispute stems from the SEC’s denial of Coinbase’s petition for rulemaking last December, which Coinbase is now challenging in court.

In a recent legal filing, Coinbase accused the SEC of trying to destroy the crypto industry by refusing to provide regulatory clarity. This comes amid an ongoing dispute between the exchange and regulator over the need for new crypto rules.

JUST IN: @Coinbase has accused the SEC of deliberately attempting to stifle the crypto industry by refusing to provide clear regulations while aggressively litigating against firms pic.twitter.com/AVcDDrjQ4f

— BlockNews.com (@blocknewsdotcom) May 31, 2024

Background on Coinbase vs SEC

  • In 2021, SEC sued Coinbase for offering unregistered securities through its staking services. Coinbase disputes these allegations.
  • After SEC denied Coinbase’s petition for crypto rulemaking in late 2021, the exchange challenged this in court.
  • Earlier this month, SEC said crypto firms’ difficulty complying with current laws doesn’t require immediate rulemaking.

Coinbase’s Latest Accusations

  • In its May 27 court filing, Coinbase said the SEC’s actions amount to “a purposeful effort to destroy an industry.”
  • The exchange accused the SEC of demanding the impossible from crypto firms while prosecuting those that fail to comply.
  • Coinbase described this as a “Catch-22” for the industry, with SEC calling for compliance while denying needed rules.

Coinbase’s Conclusions & Request

  • Coinbase concluded the SEC is trying to “choke” the crypto industry by denying requested rules.
  • The exchange asked the court to vacate the SEC’s rulemaking denial and force the agency to engage in the process.
  • The SEC maintains its denial provided sufficient explanation and it should further review any petition.

Conclusion

The legal battle between Coinbase and the SEC continues with no clear resolution in sight. The crypto industry awaits regulatory clarity, but the SEC so far refuses calls for rulemaking. This dispute highlights the challenges facing crypto companies seeking to comply with securities laws.

Tags: Coinbasecryptocrypto rulessec
TweetShareShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Solana Breaks Down — Is $106 Next?
CRYPTO

Solana Breaks Down — Is $106 Next?

June 22, 2025
Binance Coin Coils for a Move — Are Bulls About to Take Back $650?
Binance BNB

Binance Coin Coils for a Move — Are Bulls About to Take Back $650?

June 22, 2025
XRP’s Sentiment Is Heating Up — But Can Bulls Really Break Out?
CRYPTO

XRP’s Sentiment Is Heating Up — But Can Bulls Really Break Out?

June 22, 2025
Ethereum Whales Are Cashing Out Again — Should You Be Worried?
CRYPTO

Ethereum Whales Are Cashing Out Again — Should You Be Worried?

June 22, 2025
Michael Saylor Doubles Down: Bitcoin to $21 Million in 21 Years?
Bitcoin

Michael Saylor Doubles Down: Bitcoin to $21 Million in 21 Years?

June 22, 2025
VeChain Price Stalls: Next Move Could Be Explosive
CRYPTO

VeChain Price Stalls: Next Move Could Be Explosive

June 22, 2025
Load More

Related News

Solana Breaks Down — Is $106 Next?

Solana Breaks Down — Is $106 Next?

June 22, 2025
Binance Coin Coils for a Move — Are Bulls About to Take Back $650?

Binance Coin Coils for a Move — Are Bulls About to Take Back $650?

June 22, 2025
XRP’s Sentiment Is Heating Up — But Can Bulls Really Break Out?

XRP’s Sentiment Is Heating Up — But Can Bulls Really Break Out?

June 22, 2025
Ethereum Whales Are Cashing Out Again — Should You Be Worried?

Ethereum Whales Are Cashing Out Again — Should You Be Worried?

June 22, 2025
Michael Saylor Doubles Down: Bitcoin to $21 Million in 21 Years?

Michael Saylor Doubles Down: Bitcoin to $21 Million in 21 Years?

June 22, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • CRYPTO
  • Memecoins
  • Technology
  • Politics
  • FINANCE
  • NFT
  • DEFI
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.