SEC chair Gensler claps back at Coinbase, says crypto rules already exist

The chair of the United States Securities and Exchange Commission (SEC) Gary Gensler has struck back at Coinbases petition compelling the company to offer a clear stance on crypto regulation, arguing that there are currently adequate laws in location. In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about the conflict with Coinbase, the guidelines on crypto and why “the SEC does not publish rules for that market.” Coinbase– and lots of other U.S. crypto companies– have consistently spoken out versus an apparent lack of clear crypto guideline and the SECs so-called “regulation by enforcement” approach to crypto, along with its hostile nature when dealing with digital asset companies.

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The chair of the United States Securities and Exchange Commission (SEC) Gary Gensler has actually hit back at Coinbases petition compelling the company to supply a clear position on crypto policy, arguing that there are already appropriate laws in location. In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about the conflict with Coinbase, the rules on crypto and why “the SEC doesnt publish rules for that market.” Coinbase– and lots of other U.S. crypto firms– have repeatedly spoken out versus an obvious lack of clear crypto regulation and the SECs so-called “regulation by enforcement” technique to crypto, along with its hostile nature when dealing with digital property companies.

In April, the firm went as far as to submit an action in federal court seeking to compel the SEC to publicly reveal its stance on a petition from July 2022 calling for clear rules for the crypto sector. Related SEC under fire for its custody guideline: Law Decoded, May 8– 15On May 8, the Coinbase primary legal officer Paul Grewal also sent a letter to the SEC requesting revisions to the agencys proposed updates to its authorized financial investment consultants custody guideline. Publication: Crypto policy– Does SEC Chair Gary Gensler have the last say?