Commenting on his firm's recent Wells Notice from the SECGov, Coinbase CEO brian_armstrong likened the regulator to soccer referees in a game of pickleball.
Asked to explain the most recent development “in NFL terms,” Armstrong quipped:
“Imagine you've got both football and soccer refs on the field, but we're actually playing pickleball . The refs can't really agree on the rules of this new game, and one of them decides to change a call they made back in April 2021.”application to go public in 2021. Armstrong argued that the SEC that its filings “clearly explained” its asset listing process and “included 57 references to staking.”
In a separate tweet, Coinbase Chief Legal Officer Paul Grewal claimed the SEC provided “no clear rule book” on crypto regulations and that “efforts to engage with the SEC are met with silence or enforcement actions." The truth is that today there is no clear rule book from the SEC on crypto, and efforts to engage with the SEC are met with silence or enforcement actions. They have not followed a good faith rulemaking process with industry, as required under the APA. 10/15Both executives appear to welcome the chance to use the “legal process” to provide the crypto industry with regulatory clarity.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase gets Wells notice from U.S. SEC over Earn product, walletCoinbase Global Inc said on Wednesday it had received a notice from the U.S. Securities and Exchange Commission warning that the cryptocurrency exchange could face a civil action over some of its products.
Read more »
Ripple CTO Reacts to Coinbase Getting SEC Wells NoticeRipple executive David Schwartz took to Twitter to criticize the SEC's recent actions, suggesting that they may be motivated by incompetence or a desire to protect insiders and early investors
Read more »
Ripple Lawsuit: Messari CEO Backs Ripple to Beat SEC Despite Being Former CriticMessari CEO wants Ripple to win SEC in its 'overreaching' lawsuit
Read more »
Coinbase warned by SEC of potential securities chargesThe SEC issued crypto exchange Coinbase a Wells notice, warning the exchange that it identified potential violations of U.S. securities law.
Read more »