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 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.

Why did the SEC file a lawsuit against the Chamber?

The Chamber's lawsuit was filed in the 5th U.S. Circuit Court of Appeals, a conservative-leaning court that has issued several high-profile rulings adverse to the Biden administration. The SEC has also been defending against another lawsuit from the Chamber and others over the agency's decision to roll back a 2020 proxy advisor rule.

Do we relish litigation against the SEC?

“WWe do not relish litigation against the SEC, but we will vigorously defend ourselves – and stand up for the rule of law for everyone,” Grewal wrote. The post Chamber Of Commerce Backs Coinbase, Slams SEC Regulatory Approach Toward Crypto Assets appeared first on International Business Times.