{"id":27933,"date":"2024-03-20T14:57:33","date_gmt":"2024-03-20T14:57:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/advocacy-groups-push-for-u-s-sec-clarity-in-crypto-regulations\/"},"modified":"2024-03-20T14:57:33","modified_gmt":"2024-03-20T14:57:33","slug":"advocacy-groups-push-for-u-s-sec-clarity-in-crypto-regulations","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/advocacy-groups-push-for-u-s-sec-clarity-in-crypto-regulations\/","title":{"rendered":"Advocacy Groups Push for U.S. SEC Clarity in Crypto Regulations"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>A coalition of advocacy groups and prominent organizations is rallying behind <a href=\"https:\/\/igaming.org\/cryptocurrencies\/coinbase\/\">Coinbase<\/a>, urging the Securities and Exchange Commission (SEC) to introduce definitive regulations for the cryptocurrency sector. This movement, highlighted by recent amicus briefs submitted to the Third Circuit Court of Appeals, showcases a united front consisting of the Crypto Council for Innovation (CCI), Satoshi Action Fund, Texas Blockchain Council, investment firm Paradigm, digital asset company Lejilex, and the U.S. Chamber of Commerce. Their collective stance underscores the pressing need for regulatory clarity within the United States\u2019 crypto industry.<\/p>\n<p>These organizations emphasize the detrimental impact of the SEC\u2019s ambiguous stance on digital assets, arguing it fosters uncertainty that could drive crypto businesses offshore. <em>\u201cThe uncertainty and paralysis created by the SEC could cause digital asset companies to move out of the United States altogether,\u201d<\/em> a statement from the joint brief of the Satoshi Action Fund and Texas Blockchain Council points out. They stress the importance of establishing straightforward regulations, particularly when companies face potential legal repercussions for actions previously deemed compliant.<\/p>\n<p>Supporting Coinbase\u2019s <a href=\"https:\/\/igaming.org\/crypto\/coinbases-legal-battle-with-the-sec-intensifies-over-rulemaking-petition\/\">appeal<\/a> for regulatory guidance, these groups criticize the SEC\u2019s reluctance to delineate which tokens fall under its regulatory purview as securities. The appeal, initiated by Coinbase in July 2022, seeks to compel the SEC to formalize its approach to the regulation of digital asset securities. <em>\u201cThe Commission\u2019s recent denial of Coinbase\u2019s petition for rulemaking\u2026 flouts basic principles of fairness, diminishes faith in domestic markets, and will continue to harm consumers and innovators alike,\u201d<\/em> the CCI\u2019s brief articulates.<\/p>\n<p>Echoing these sentiments, the U.S. Chamber of Commerce highlights the broader implications of the SEC\u2019s indecision, viewing it as a cautionary tale against regulatory inertia in the face of emerging technologies. <em>\u201cThe SEC\u2019s failure to provide clarity for this important new industry offers a case study in the dangers of refusing to adapt regulation to new circumstances,\u201d<\/em> the Chamber comments.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/advocacy-groups-push-for-u-s-sec-clarity-in-crypto-regulations\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) A coalition of advocacy groups and prominent organizations is rallying behind Coinbase, urging the Securities and Exchange Commission (SEC) to introduce definitive regulations for the cryptocurrency sector. This movement, highlighted by recent amicus briefs submitted to the Third Circuit Court of Appeals, showcases a united front [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":27934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27933"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=27933"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/27934"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=27933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=27933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=27933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}