With Donald Trump in office, top-level agencies like the SEC have taken a moderate approach to cryptocurrency.
At this point, the SEC has withdrawn lawsuits against many platforms, including Coinbase and Robinhood, but Coinbase is putting pressure on the SEC for clearer crypto regulations.
Coinbase, the largest US cryptocurrency exchange, has requested the SEC to clarify its jurisdiction over digital assets, Bullock reports.
Coinbase has requested that the SEC distinguish cryptocurrencies from securities, consult the US Congress regarding regulatory uncertainties, and accept that cryptocurrencies are not securities, while listing the steps the SEC can take with cryptocurrencies.
Coinbase also requested that traditional securities be tokenized.
Faryar Shirzad, Chief Insurance Officer at Coinbase, said:
Four years after Congress, administration and regulators seemed deliberate to cause confusion, everyone understood the urgency to make clear in these markets.
What we always want from facilities is the opportunity for all stakeholders to participate in the deliberation process on how to regulate these markets and provide clarity to market participants. ”
Coinbase recently emphasized that as the SEC has changed its stance on cryptocurrency under the Trump administration, clear rules will be needed to support market growth and stability.
*This is not investment advice.
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