Coinbase: SEC wants to 'destroy' crypto ☠️

In a legal filing, the exchange accused the SEC of " a purposeful effort to destroy" the crypto industry.

Author

Stephen Graves
May 31, 2024

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📝 What you need to know

Crypto exchange Coinbase has come out swinging against the SEC, with a court filing that accuses the regulator of “a purposeful effort to destroy” the crypto industry.

The exchange argued that the SEC has presented crypto firms with a “Catch-22” by calling them to come into compliance with securities laws, while allegedly refusing to offer “needed” rulemaking, and engaging in “scorched-earth litigation” against companies that can’t satisfy its requests.

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💬 Quote of the Day

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“The SEC is bent on choking the digital asset industry, and is refusing to provide the necessary rules the industry has requested in order to tighten the squeeze.”

Paul Grewal, Chief Legal Officer, Coinbase

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