The U.S. Securities and Exchange Commission (SEC) is yet to issue straightforward steps to clear out the ongoing frenzy about cryptocurrency regulation. The regulatory body appears to be “taking its time” to establish clearer laws, with many enthusiasts expressing concern that rulemaking could take years.
Gary Gensler, the SEC chair, is at the center of the uncertainty dubbed “providing clear guidelines to regulate crypto.” He has spoken his mind several times, articulating viewpoints criticized by the crypto community. The current confusion raises the question, are the SEC and its chairs seriously considering proposing definitive laws in the future?
Coinbase asks for new digital asset rules
On April 24, Coinbase filed a lawsuit asking the SEC to respond definitively to the exchange’s petition for new digital asset rules establishment. On May 16, the SEC formally responded that rulemaking could take years.
Further, they emphasized that enforcement actions will not stop. The regulator argued that it faced no obligation to meet the Coinbase requirements in its petition, saying that the reforms were complex and could
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Author: Adam Robertson
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