SEC Rejects Coinbase Petition for Brand Spanking New Crypto Regulations > 자유게시판

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The US Securities and Exchange Commission (SEC) denied crypto trading platform Coinbase's (COIN) petition for an enhanced regulatory framework on cryptocurrencies and digital belongings

Yahoo Finance's Jennifer Schonberger details the story and feedback from the SEC and Chairman Gary Gensler.

For extra skilled insight and the latest market motion, click right here to look at this full episode of Yahoo Finance Live.

Video Transcript

[AUDIO Logo]

JULIE HYMAN: Coinbase denied a push for brand spanking new crypto guidelines from the Securities and Exchange. Jennifer Schonberger here with the small print on this ongoing story. Hi, Jen.

JENNIFER SCHONBERGER: Good afternoon, Julie. That's right. The SEC denied a petition from Coinbase to create a new regulatory framework to govern crypto asset securities, saying that it's currently unwarranted and disagreeing with Coinbase argument that applying the present guidelines would be unworkable.

The choice reads, quote, "The commission disagrees with the petition's assertion that software of existing securities statutes and laws to crypto asset securities, issuers of those securities, and intermediaries in the buying and selling settlement and custody of these securities is unworkable." SEC Chair Gary Gensler saying in an announcement, quote, "To the extent that crypto belongings are supplied and sold within the form of an investment contract, the federal securities laws apply he went on to say the existing securities regime appropriately governs crypto asset securities."

The SEC primarily says there isn't any cause to craft a brand new regime for crypto, and that it's already writing some targeted crypto rules and filing enforcement actions underneath existing authorities. Though two of the five commissioners disagreed, Republican commissioners Hester Peirce and Mark Judah oppose the SEC's denial.

The decision coming after the US's largest crypto alternate requested a federal court docket this spring to make the SEC reply to its petition. Coinbase filed that petition in June of 2022, additionally asking the right way to register with the financial watchdog and lamenting no response for months. Coinbase mentioned to challenge the SEC's determination, filing in the Third Circuit Court this afternoon.