US Court Criticizes SEC for 'Arbitrary Behavior' in Rejecting Crypto Regulation Petition
JH Kim
Summary
- A US court has pointed out 'arbitrary behavior' by the Securities and Exchange Commission (SEC) in rejecting a cryptocurrency regulation petition.
- Paul Grewal, Chief Legal Officer of Coinbase, reported that the court criticized the SEC's stance and demanded a detailed explanation.
- This suggests that regulatory uncertainty regarding cryptocurrencies in the US remains for investors.
Paul Grewal, Chief Legal Officer (CLO) of Coinbase, stated on the 13th (local time) via his X (formerly Twitter) that the United States Court of Appeals for the Third Circuit pointed out that the Securities and Exchange Commission (SEC) exhibited 'very arbitrary and capricious regulatory behavior' concerning the establishment of rules for the cryptocurrency market.
He added, "The court has ordered the SEC to provide a more detailed explanation for its reasons for rejecting Coinbase's rulemaking petition."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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