John Deaton replied news About the US Securities and Exchange Commission’s rejection of Coinbase plea. In a tweet I went out on On May 16, Deaton stated that the SEC is a broken agency that does not respect its core mission statement.
Coinbase, a prominent cryptocurrency trading platform in United States, lawsuit in April, claiming that the SEC’s response to their petition has been unreasonably delayed. in court filing on On May 15, the SEC responded by denying Coinbase’s assertion that the agency had done so already arrived a decision as “unfounded”.
Coinbase’s Chief Legal Officer, Paul Grewal, responded to this announcementcall him followers Take a look at the SEC brief for themselves, prompting a range of Answers from Twitter community.
One of Most notable from John Deaton, founder and host of CryptoLaw, a platform, was created in 2021 for viewing digital asset Owners’ insights news on regulatory progress in United State.
In his Twitter thread, he composed of Four letters, Deaton highlights the history of The Securities and Exchange Commission, noting “57 cases involving digital assets between 2017 and 2020, where XRP was untouched. Continue it was in 2019 that the Securities and Exchange Commission issued framework for digital assets.
SEC was designed To regulate and supervise the securities industry, protect investors, maintain fair and orderly markets, and facilitate capital formation.
However, this is not a file first The time the questions and discussions related to the effectiveness of Supreme Education Council in intended fulfillment role.
Critics argue that the SEC has faced challenges in Effective disclosure and enforcement of regulations and prompt response to emerging issues in develop rapidly financial Aesthetic view.
some people Securities and Exchange Commission question ability To adapt to technological developments, in particular in the world of Cryptocurrency and digital assets.
These criticisms and questions shed light on the ongoing discussions on how The SEC can enhance its effectiveness and responsiveness to meet evolving needs and complexities of stock industry.
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