The Crypto Community's Defiant Reaction to Gensler's Coinbase Lawsuit
The Breakdown
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The SEC's Decision to Deny Coinbase's Petition for Rulemaking
On Tuesday evening, the judge overseeing the case issued an order specifically referencing Gensler's public comments and congressional testimony in which he stated that current regulations are sufficient for digital assets. In light of those comments, the SEC was ordered to present a letter to the court explaining, quote, whether the SEC has now decided to deny Coinbase's petition for rulemaking. If not, how much additional time the SEC requires to decide whether to grant or deny that petition. The SEC was given just seven days to explain themselves.
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