SEC vs Coinbase

I come back to my favorite issue, namely the US Security and exchange commission (SEC) under the guidance of Gary Gensler. The SEC criticizes a lot and rightly, but even its detractors must recognize its extraordinary tenacity, consistency and perseverance. 

And it should be recognized that the SEC is a principled opponent of the crypto industry. Where did such an aversion to crypto come from? There is a fact that the SEC became actually a combat unit of the "fiat" world, designed to stop the advance of cryptocurrencies. This causes both harsh statements by executives and aggressive actions against crypto companies.

After several legal defeats, Mr. Gensler tries to take revenge. The SEC trial with Coinbase is far from over. Recall that the SEC traditionally accuses the crypto exchange of trading unregistered securities, and therefore considers Coinbase an illegal exchange.

It may indeed be wrong to engage in illegal trading (although I think in principle that artificial restriction of business is categorically wrong), but, again and again, no one has proven that cryptocurrencies are identical to securities. On the contrary, the decisions already made confirm that the crypto industry is right. Despite this, the SEC continues the war. I suggest everyone take a look at Howie’s test and figure it out for themselves 

It is quite reasonable that Coinbase is not going to give up. A representative of the exchange said that they were confident in their legal documents and added that the exchange, realizing that it would require legislative solutions to normalize the situation, had started political lobbying.

Coinbase does not express political preferences, but intends to fund both parties loyal to the crypto candidates. This is indeed a good step, it should not be expected to make quick decisions, but in the future, it will help to form an audience of loyal politicians. 

#SEC #Coinbase #cryptocurrencies