Coinbase: The SEC is launching a "devastating lawsuit" to destroy the cryptocurrency industry
Coinbase stated in a 36-page closing statement submitted on Friday that the cryptocurrency company is in a dilemma. The SEC is demanding that the company comply with regulations, while simultaneously launching destructive lawsuits against companies that fail to comply with regulations and refusing to establish rules, Coinbase said. In its closing statement, Coinbase stated that this behavior pattern is intended to destroy an industry by demanding impossible things and suing companies that fail to achieve the goals. In the process of promoting rule-making, Coinbase advocates that the appeals court should order the US Securities and Exchange Commission (SEC) to begin writing rules for cryptocurrencies.
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