Blockchain Association Joins Coinbase In Pushback Against SEC

Crypto Daily
Crypto Daily

30 Jun 2023 11:45 AM

The Blockchain Association has called on SEC Chair Gary Gensler to recuse himself from enforcing rules on the crypto space....

  • The Blockchain Association has called on SEC Chair Gary Gensler to recuse himself from enforcing rules on the crypto space.
  • The association argues that Gensler's repeated assertion that everything other than Bitcoin is a security shows bias and an inability to approach the issue with an open mind.
  • They claim that Gensler's biased perspective would prevent fair assessment and enforcement actions in the crypto industry.
  • Coinbase, a cryptocurrency exchange, has filed a notice of intent to dismiss the SEC's lawsuit against them, stating that the SEC was aware of their operations and that the agency's position is untenable.
  • The SEC has taken legal action against other crypto exchanges, including fining Kraken and issuing a warning to Paxos Trust Company.

The sentiment of the article is negative towards SEC Chair Gary Gensler and the SEC's actions in the crypto industry.

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You May Ask

Why has the Blockchain Association called on SEC Chair Gary Gensler to recuse himself from enforcing rules on the crypto space?What is the argument made by the Blockchain Association regarding Gensler's perspective on digital assets?What action did Coinbase take in response to the SEC's lawsuit against them?What other legal actions has the SEC taken against crypto exchanges this year?How does Coinbase criticize the SEC's actions in their filing?

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