![[ad_1]The\nUS S](/image/blog-default.webp)
بروزرسانی: 28 خرداد 1404
[ad_1]The\nUS S
TheUS Securities and Exchange Commission (SEC) has denied Coinbase Global\'spetition for the establishment of new rules governing the digital assetindustry. Coinbase, a major crypto exchange, had sought tailored regulationsfor the crypto sector, arguing that current U.S. securities laws wereinadequate.
However,SEC Chair Gary Gensler, in a letter to Coinbase\'s chief legal officer,expressed disagreement with the assertion that existing securities regulationsare unworkable for the crypto sector.
Ina statement on the SEC\'s website, Gensler emphasized that current laws alreadyapply to crypto securities markets, citing the flexibility of the SupremeCourt\'s Howey test, which has been successfully applied to crypto assets byfederal courts. He rejected claims that identifying an "issuer" ofcrypto asset securities is unfeasible, underscoring the importance ofdisclosure and protection for investors.
TheSEC Chair highlighted the Commission\'s ongoing rulemaking initiatives toaddress crypto securities markets. Despite Coinbase\'s assertionthat now is the right time for regulatory action, Gensler pointed to existingefforts, such as the Special Purpose Broker-Dealers Release, providing afive-year period for broker-dealers in crypto asset securities. He also notedproposed rules and enforcement actions related to crypto assets, stressingthe need for flexibility in response to evolving markets.
US SEC denies Coinbase petition for crypto rulemaking pic.twitter.com/S46RF03Qyi
— Reuters (@Reuters) December 15, 2023
Registrationand Compliance Crucial for Market Integrity
MaintainingCommission discretion was emphasized as crucial for deploying resourceseffectively and prioritizing regulatory agendas. Gensler highlighted that thecrypto market, while susceptible to fraud and noncompliance, constitutes asmall portion of the broader $110 trillion capital markets.
Commissiondiscretion allows for a focused approach to areas needing updated regulation.Gensler concluded by stating that despite challenges, meaningful engagement,registration, and compliance are essential for investor protection and marketintegrity. The SEC\'sdecision to deny the petition aligns with the view that existing securitiesregulations appropriately govern crypto asset securities, ensuring fulldisclosure and a level playing field for industry participants.
TheUS Securities and Exchange Commission (SEC) has denied Coinbase Global\'spetition for the establishment of new rules governing the digital assetindustry. Coinbase, a major crypto exchange, had sought tailored regulationsfor the crypto sector, arguing that current U.S. securities laws wereinadequate.
However,SEC Chair Gary Gensler, in a letter to Coinbase\'s chief legal officer,expressed disagreement with the assertion that existing securities regulationsare unworkable for the crypto sector.
Ina statement on the SEC\'s website, Gensler emphasized that current laws alreadyapply to crypto securities markets, citing the flexibility of the SupremeCourt\'s Howey test, which has been successfully applied to crypto assets byfederal courts. He rejected claims that identifying an "issuer" ofcrypto asset securities is unfeasible, underscoring the importance ofdisclosure and protection for investors.
TheSEC Chair highlighted the Commission\'s ongoing rulemaking initiatives toaddress crypto securities markets. Despite Coinbase\'s assertionthat now is the right time for regulatory action, Gensler pointed to existingefforts, such as the Special Purpose Broker-Dealers Release, providing afive-year period for broker-dealers in crypto asset securities. He also notedproposed rules and enforcement actions related to crypto assets, stressingthe need for flexibility in response to evolving markets.
US SEC denies Coinbase petition for crypto rulemaking pic.twitter.com/S46RF03Qyi
— Reuters (@Reuters) December 15, 2023
Registrationand Compliance Crucial for Market Integrity
MaintainingCommission discretion was emphasized as crucial for deploying resourceseffectively and prioritizing regulatory agendas. Gensler highlighted that thecrypto market, while susceptible to fraud and noncompliance, constitutes asmall portion of the broader $110 trillion capital markets.
Commissiondiscretion allows for a focused approach to areas needing updated regulation.Gensler concluded by stating that despite challenges, meaningful engagement,registration, and compliance are essential for investor protection and marketintegrity. The SEC\'sdecision to deny the petition aligns with the view that existing securitiesregulations appropriately govern crypto asset securities, ensuring fulldisclosure and a level playing field for industry participants.
منبع: https://www.financemagnates.com//cryptocurrency/sec-rejects-coinbases-call-for-crypto-specific-regulations-citing-existing-laws/