Wyoming Senator Cynthia Lummis Supports Coinbase in SEC Battle
Senator Cynthia Lummis has filed an amicus brief in support of Coinbase’s motion to dismiss the SEC complaint. Lummis argues that the SEC does not have the authority to regulate crypto assets and that Congress should be responsible for defining crypto regulation.
Key Points:
- Senator Lummis supports Coinbase’s motion to dismiss the SEC complaint.
- Lummis argues that the SEC is exceeding its authority by regulating crypto assets.
- The amicus brief urges the court to reject the SEC’s interpretation and defer to Congress for proper regulation.
- Other crypto advocacy groups have also filed amicus briefs supporting Coinbase.
- Senator Lummis emphasizes the need for clear regulatory rules for crypto assets.
Hot Take:
Senator Cynthia Lummis is a strong advocate for the crypto industry and believes that Congress, not the SEC, should be responsible for defining crypto regulation. By filing an amicus brief in support of Coinbase, she is actively fighting against the SEC’s overreach and advocating for clear regulatory rules for crypto assets. Lummis’s stance aligns with her goal of securing America’s position as a global leader in financial innovation.
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