In the fast-growing world of digital money, Coinbase, one of the world’s leading crypto platforms, is at the center of a pressing debate about the role of regulation and enforcement in the crypto industry. In their most recent blog post, they express their concerns about the US Securities and Exchange Commission’s (SEC) current approach and emphasize the need for a legislative approach to keep America competitive and encourage innovation.

Let’s delve deeper into Coinbase’s positions and arguments.

Coinbase’s Review of the SEC

In a new blog post asserts Coinbase, while most of the world’s economic powers have adopted the technology to expand economic opportunity, the SEC is still focused on a strict enforcement approach that is costing millions of jobs in the U.S. and pushing opportunities overseas.

According to Coinbase, this enforcement-oriented approach remains in place even though 9 in 10 Americans believe it’s time to make the financial system better and accelerate progress by overhauling the existing system.

And despite the fact that 52 million people, representing 1 in 5 Americans, hold cryptocurrencies, this approach to enforcement continues. It is also noteworthy that the courts have ruled against the SEC in several cases, including the Grayscale case; The court found that the SEC had acted in an arbitrary and capricious manner.

The road to the future

According to Coinbase, legislation is the most appropriate path for the future. Coinbase argues that it’s time to say goodbye to the SEC’s enforcement-oriented approach and prepare America for the future with clearer laws and regulations.

These efforts are necessary to ensure that the United States does not fall behind other jurisdictions. Coinbase sees a legislative approach to creating crypto regulation as the best way to protect consumers while innovating in digital assets and protecting related jobs in the United States.

Free 10 euro worth of crypto

Are you looking to enter the crypto world and buy Bitcoin or another crypto? We have good news for you! Thanks to a special agreement between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers get an exclusive offer.

If you register with Bitvavo via the button below, you will receive 10 euros for free, but you will not pay trading fees for your first 10,000 euros.