The Crypto Community Criticizes SEC’s Argument in Coinbase Case
The cryptocurrency community has raised concerns about the argument put forward by the United States Securities and Exchange Commission (SEC) in its case against crypto exchange Coinbase. The SEC’s latest brief in the Coinbase matter seems to reference the ruling made in the ongoing Ripple case, which has sparked criticism among crypto enthusiasts.
Lawyer Bill Morgan recently shared a passage from the SEC’s brief on Twitter, seeking clarification. In response, crypto researcher Anders L described the SEC’s argument as “pathetic” and an attempt to discredit Judge Analisa Torres’s decision regarding Ripple. Anders L further elaborated on this point in a post on October 7.
Hot Take: Concerns Over SEC’s Approach
The crypto community is expressing concern over the SEC’s approach in both the Ripple and Coinbase cases. By referencing the Ripple case in its argument against Coinbase, the SEC has faced criticism for attempting to undermine Judge Analisa Torres’s ruling on XRP. This has sparked debates among crypto enthusiasts regarding the regulator’s tactics and potential implications for the industry. As the legal standoff between the SEC and Ripple continues, many are eagerly awaiting the final conclusion and its impact on the cryptocurrency market.
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