Why US SEC May Lose Against Coinbase, Lawyer Explains
Also Read: US Court Interrupts SEC’s Enforcement Against Crypto Exchanges advertisement US SEC Making Faulty Claims? Attorney James Murphy mentioned that the U.S. SEC is alleging that Coinbase acted as an illegal unregistered securities exchange since 2019. However, it is important to note that, back in April 2021, the commission itself approved Coinbase’s application to go public. He highlighted that the U.S. SEC Chairman, Gary Gensler on May 6, 2021, testified ahead of Congress under the current law, that the agency does not hold authority to regulate crypto exchanges. Going with the testimony, Attorney suggests that the commission should lose its claims in court. The attorney added that the U.S. SEC chair’s testimony was entirely correct. Congress here needs to answer which agency holds the authority to regulate crypto exchanges in the country. Meanwhile, the commission, itself cannot assert its legal authority over the matter. Read Mor...