Coinbase vs SEC: New attorney Patrick V. Kennedy joins fight

The crypto community, digital asset organizations and lawmakers have voiced their backing for the

The judgements in the Ripple and Grayscale cases have underscored the SEC’s lack of clarity in distinguishing which cryptocurrencies qualify as securities, highlighting a deficiency in regulatory clarity. In these recent rulings, the SEC faced defeats against Ripple and, more recently, Grayscale, as it failed to provide adequate reasoning for rejecting the conversion of Bitcoin ETFs.

Gary Gensler, the SEC Chair, believes that all cryptocurrencies, except Bitcoin, should be classified as securities and that the SEC should have authority over the entire crypto industry. Nonetheless, the SEC’s credibility has eroded due to its seemingly illogical claims regarding cryptocurrencies. Furthermore, the SEC’s postponement of decisions on seven Bitcoin ETFs may result in financial losses for investors.

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Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?