Why Coinbase sues the SEC?
Coinbase, one of the main cryptocurrency exchange platforms, filed a lawsuit against the United States Securities and Exchange Commission (SEC) for several reasons, which in summary, relate to the lack of regulatory clarity and the need for guidelines. specifics on how to operate within the legal framework. Below are the key points of the dispute:
Lack of regulatory clarity: Coinbase argues that the SEC has not provided clear and specific rules on how cryptocurrency companies must operate to comply with US securities laws. This has created uncertainty in the sector and hinders Coinbase's ability to ensure that its operations comply with existing regulations.
Request for a formal response: In 2022, Coinbase submitted a formal petition to the SEC requesting clear guidelines on how cryptocurrencies and digital assets could fit within existing regulations. The lawsuit seeks to force the SEC to respond to this request.
Protection for innovation: Coinbase maintains that the lack of clear guidelines puts innovation and development in the cryptocurrency space in the United States at risk. The company seeks to ensure that there is a regulatory framework that allows cryptocurrency companies to operate safely and in accordance with the law, without slowing down innovation.
Previous SEC Lawsuits Against Coinbase: The SEC has investigated and taken action against Coinbase, alleging that the company may have listed assets that should have been registered as securities. Coinbase maintains that these actions are unfair without prior regulatory clarity.
Coinbase's lawsuit against the SEC is an attempt to obtain greater transparency and specific guidelines from the regulatory agency, which they consider essential to legally and effectively operate in the cryptocurrency market.
