Chamber of Digital Commerce opposes SEC’s overreach in Binance lawsuit

The United States-based Chamber of Digital Commerce has actually aligned with numerous digital assets companies, associations, legal professionals and legislators in a collective effort to challenge the U.S. Securities and Exchange Commission (SEC) vs. Binance lawsuit.According to a recently filed amicus brief, the advocacy group likewise looks for to thwart the SECs effort to oversee the cryptocurrency sector without explicit authorization from the U.S. Congress and stop the SECs technique of policy through enforcement.Cody Carbone, vice president of policy at the Chamber of Digital Commerce, specified:”The SEC continues to try to control the whole digital asset environment through enforcement actions, rather of issuing guidance or going through the proper notification and comment rulemaking channels. It declares this technique hinders innovation and obliges crypto companies to move abroad.Furthermore, the Chamber states that the SEC lacks the congressional authority to supervise all digital properties as securities.”On Sept. 12, lawyers for BAM Trading Services, which runs the Binance.US cryptocurrency exchange, filed sealed files in opposition to the SEC looking for additional details from Binance.US.Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?

Thank you for reading this post, don't forget to subscribe!