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.

Why did the SEC make Coinbase wait months for a response?

The Chamber went on to back Coinbase’s claim that the SEC was violating its obligation of responding timely to requests for rulemaking by making the exchange wait months for a response.