SEC Rejects Coinbase’s Plea for New Crypto Rules
SEC rejects Coinbase's plea for new crypto rules; Chairman Gensler says existing laws suffice, but commissioners Peirce and Uyeda disagree.
The SEC has denied Coinbase's request for new digital assets rules. They believe that current securities laws are enough for the crypto industry.
In a letter to Coinbase, The SEC disagreed with Coinbase's claims that existing laws are not enough for digital assets. SEC Chairman Gary Gensler supports this view, stating that current laws are enough to protect investors in crypto markets.
However, two SEC commissioners, Hester Peirce and Mark Uyeda, disagree. They argue that cryptocurrencies need special laws due to new technologies. They suggest public discussions and input from various people before making any rules.
