The U.S. SEC has stated that any crypto rulemaking could take years, so, for now, enforcement actions will suffice.In its court response to Coinbase’s petition, the Securities and Exchange Commission claimed that any crypto rule-making could take years. Thus, enforcement actions will suffice in the interim.filed on 15 May that it is under no obligation to meet the conditions described in Coinbase’s petition.
Today the SEC responded to Coinbase’s petition for a writ of mandamus — asking the court to require the SEC to respond just yes or no to whether it will undertake rulemaking for our industry. The SEC’s answer? A resounding maybe. 1/7Grewal further alleged that the SEC has distanced itself from the words and opinions of its head, Gary Gensler. The latter is certain that there are already appropriate controls in place. Moreover, most cryptocurrency already comes under the blanket of security.
According to the SEC’s filing, the regulator is not obligated to rush into crypto-related rule-making.“Overall, the SEC’s response reinforces Coinbase’s longstanding concern that our industry does not have clarity on what the SEC may consider to be within or outside its jurisdiction at any time, and it is likely to continue changing its mind along the way.”
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