Two venture capital firms say they are concerned about the SEC's overreach in the crypto industry, in a filing supporting Coinbase.
The SEC’s approach to crypto could reach beyond to “an endless array of commonly sold assets,” the firms warned, including fine art, classic cars and vintage wines.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Two tech focused venture capital firms say they are concerned about the Securities and Exchange Commission’s alleged overreach in the crypto industry.
“The SEC’s regulatory overreach, coupled with the unpredictability and arbitrariness of its actions, threatens the development of blockchain technology in the United States,” the firms said in theirThe SEC sued Coinbase, as well as other exchanges, over the last few months for allegedly not registering with the agency.
The SEC’s approach to crypto could reach beyond to “an endless array of commonly sold assets including fine art, classic cars and vintage wines, the firms warned.A new regulatory framework is needed for crypto, but the firms said that should come from Congress instead. Lawmakers in the House Financial Services Committee and House Agriculture Committee
The major questions doctrine has two parts — one focused on whether the subject has a major impact on the nation’s economy or on the public, and the second is whether a federal agency has explicit authority to implement new regulations.
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