### Coinbase recently sought regulatory clarity from the U.S. Securities and Exchange Commission (SEC), only to receive a less-than-encouraging response. In its petition, Coinbase requested clear guidelines on crypto rules, but the SEC asserted that it is not obligated to fulfill the exchange's request.

According to the SEC, the extensive improvements and rule-making proposed by Coinbase within the given timeframe present significant challenges. The SEC further emphasized in a statement that it is not required by either the securities laws or the Administrative Procedure Act to create the extensive new regulations related to 'digital assets' that Coinbase has requested.



Coinbase's chief legal officer, Paul Grewal, voiced his dissatisfaction with the SEC's reply, characterizing it as a "definitive uncertainty." Grewal further anticipated that the SEC may take several years before offering the essential regulatory guidance for the cryptocurrency sector, emphasizing that there is no sense of urgency on their part.



Furthermore, the SEC clarified that Chair Gensler's public statements should not be considered official guidance or policy declarations. This clarification underscores the importance of formal regulatory frameworks to provide clear direction and avoid any confusion within the rapidly evolving crypto landscape.



As the SEC's stance suggests a prolonged journey towards regulatory clarity, industry participants will need to navigate the crypto space with a measured approach, recognizing the evolving landscape while exercising caution.

Coinbase recently sought regulatory clarity from the U.S. Securities and Exchange Commission (SEC), only to receive a less-than-encouraging response. In its petition, Coinbase requested clear guidelines on crypto rules, but the SEC asserted that it is not obligated to fulfill the exchange's request.

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Tue Jun 06 2023 In No Hurry: SEC Delays Crypto Clarity, Leaving Investors And Businesses In Limbo

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Tue Jun 06 2023

In No Hurry: SEC Delays Crypto Clarity, Leaving Investors And Businesses In Limbo