Coin Edition -
- Brian Armstrong said Coinbase (NASDAQ:COIN) would appeal the SEC’s petition denial to create crypto rules.
- According to Armstrong, the appeal will get the crypto industry closer to regulatory clarity.
- The SEC denied Coinbase’s petition, describing it as “Unwarranted.”
Coinbase CEO Brian Armstrong has expressed his company’s willingness to challenge the Securities and Exchange Commission’s (SEC) decision not to create clear rules for the crypto industry. In a post on X (formerly Twitter), Armstrong described the developing situation as a “nice small win,” saying that challenging the SEC’s decision would get the crypto industry one step closer to regulatory clarity.
Nice small win. We went to court to challenge the SEC’s refusal to create clear rules for the industry – and it worked (a court compelled them to respond).Now that they've formally responded (with a no!) we can challenge their response in court, which helps us get one step… https://t.co/3RcTk1OVcp— Brian Armstrong