📢Good news! In its recently filed 36-page closing argument, Coinbase bluntly pointed out the dilemma that cryptocurrency companies are caught in. 😮
The SEC is demanding compliance from companies while launching devastating lawsuits against those that fail to comply and even refusing to write rules. Coinbase said this pattern of behavior is intentionally destroying an industry by demanding the impossible and suing companies that fail to meet the target. 😤
However, Coinbase is not discouraged and is pushing for rulemaking, arguing that the Court of Appeals should order the U.S. Securities and Exchange Commission (SEC) to start writing rules for cryptocurrencies. 💪
This is undoubtedly a positive impact on the entire cryptocurrency industry, let us wait and see if Coinbase can lead the industry to a clearer path of standardization. 🚀