More about this
The cryptocurrency exchange decided to file a legal complaint against the SEC. She is sure that this is the only way to get a response from the regulator regarding the cryptocurrency industry.
The exchange referred to the relevant law, according to which the regulator must respond to submitted requests in the optimal time. The crypto exchange wants to demand specific answers from the regulator.
The statement was supported by over 1,700 different persons. Judging by the statements of the SEC and their activities in the cryptocurrency industry, it seems that the regulator has decided to abandon the petition. However, she did not share this fact with the public. Therefore, Coinbase filed a lawsuit to get the outcome of the decision from the SEC. This was announced by the chief legal consultant of the crypto exchange.
He also noted that if the regulator responds positively, then the development of regulations will begin that will help market participants determine the legality of their actions. If the SEC refuses to do this, the exchange will appeal this decision to consider all the nuances.
He noted that the regulation of the crypto industry is important. But there is no certain precision between regulators in the US. Recall that the SEC last year launched an investigation into the cryptocurrency exchange, and in March this year made claims about listing and staking on the service.