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The largest United States cryptocurrency exchange, Coinbase, has filed lawsuits against the Securities and Exchange Commission and the Federal Deposit Insurance Corporation for failing to comply with information requests in closed crypto cases.at the United States District Court for the District of Columbia, Coinbase seeks to compel the SEC and FDIC to comply with the Freedom of Information Act to respond to information requests from industry participants.
“The SEC’s new, opaque, and shifting view of the securities laws deprives regulated parties of the fair notice demanded by due process, leaving them to guess whether the SEC might view their activities as securities transactions and decide to subject them to investigation, prosecution, and backward-looking penalties,” Coinbase insisted.
“This is no way to regulate. And this is no way to operate a transparent government. Today, we demand better from our financial regulators. We appreciate the Court’s attention to these important issues and look forward to sharing updates in the future,” Grewal stated.Best AI Crypto Coins in 2024: Top 9 Projects to WatchOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.
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