{"id":8301,"date":"2023-12-17T07:11:12","date_gmt":"2023-12-17T07:11:12","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=8301"},"modified":"2024-03-27T12:44:04","modified_gmt":"2024-03-27T12:44:04","slug":"coinbase-will-appeal-sec-decision","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/coinbase-will-appeal-sec-decision\/","title":{"rendered":"Coinbase Will Appeal SEC Decision!"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:299\">Coinbase Will Appeal SEC Decision! The United States Securities and Exchange Commission (SEC) formally rejected the crypto regulation request made by Coinbase Global Inc. This decision marks an important milestone for the cryptocurrency market and indicates that the legal battle between the <strong>SEC<\/strong> and <strong>Coinbase<\/strong> will continue.<\/p>\n<p data-sourcepos=\"5:1-5:41\">SEC rejected the request for three main reasons:<\/p>\n<ul data-sourcepos=\"7:1-10:0\">\n<li data-sourcepos=\"7:1-7:66\">The application of existing securities laws to cryptocurrencies,<\/li>\n<li data-sourcepos=\"8:1-8:71\">The SEC&#8217;s response to crypto securities markets with regulation,<\/li>\n<li data-sourcepos=\"9:1-10:0\">The importance of preserving the commission&#8217;s ability to determine its own regulatory priorities.<\/li>\n<\/ul>\n<p data-sourcepos=\"11:1-11:321\">Coinbase Chief Legal Officer <strong>Paul Grewal,<\/strong> disagrees with these reasons and confirmed plans to appeal the SEC&#8217;s response. Grewal believes that anyone claiming that existing laws are clear or that there is nothing more to be worked on, cannot look at the crypto industry with a fair perspective.<\/p>\n<p data-sourcepos=\"13:1-13:277\">Quoting a previous statement made by Grewal, <strong>Commodity Futures Trading Commission (CFTC)<\/strong> Chairman Rostin Behnam, most tokens under existing laws are commodities. Coinbase&#8217;s Chief Legal Officer has not determined when the firm will file its appeal.<\/p>\n<p data-sourcepos=\"15:1-15:354\">The conflicting positions of the SEC and CFTC on the best classification of assets in the crypto world create great confusion for industry members. Understanding which asset falls under securities and which under commodities still requires some guidance that both the SEC and CFTC are currently unwilling to provide.<\/p>\n<blockquote>\n<p data-sourcepos=\"15:1-15:354\"><strong>You may be interested: <a href=\"https:\/\/coinengineer.net\/blog\/new-campaign-for-bonk-from-binance\/\" target=\"_blank\" rel=\"noopener\">BONK Binance Campaign!<\/a><\/strong><\/p>\n<\/blockquote>\n<p data-sourcepos=\"17:1-17:232\">In particular, industry experts like attorney John Deaton, who represents XRP holders, believe that the <strong>SEC Chairman<\/strong> is openly misleading the American public; because the crypto ecosystem contains enough uniqueness that can be classified in different ways.<\/p>\n<p data-sourcepos=\"19:1-19:228\">Coinbase&#8217;s appeal application could be a significant opportunity to resolve the difference in views on cryptocurrency regulation between the SEC and CFTC. This decision could help shape the future of the cryptocurrency market.<\/p>\n<p data-sourcepos=\"19:1-19:228\">\n<blockquote>\n<p data-sourcepos=\"19:1-19:228\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong><\/a>, <a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase Will Appeal SEC Decision! The United States Securities and Exchange Commission (SEC) formally rejected the crypto regulation request made by Coinbase Global Inc. This decision marks an important milestone for the cryptocurrency market and indicates that the legal battle between the SEC and Coinbase will continue. SEC rejected the request for three main reasons:<\/p>\n","protected":false},"author":1,"featured_media":8300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[151,3017,39],"class_list":["post-8301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-coinbase","tag-coinbase-will-appeal-sec-decision","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase Will Appeal SEC Decision! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Coinbase Will Appeal SEC Decision! 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