US Securities and Exchange Commission (SEC) rejected a petition from the Bitcoin exchange Coinbase to develop rules for the cryptocurrency industry.
By opinion Department head Gary Gensler, existing laws apply to the industry. There is nothing in it that would indicate the need to create new regulations, he added.
Gensler once again pointed out the presence of fraud and abuse in the industry and emphasized that the SEC welcomes cooperation with those who want to comply with the law.
In April, Coinbase filed a court complaint seeking the SEC’s response to the July 2022 petition. In it, the exchange demanded clarity in the regulation of the crypto industry.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
