The U.S. Securities and Exchange Commission submitted documents in court to refute Coinbase’s application to rewrite cryptocurrency regulatory rules.
The document states that the existing framework is sufficient to deal with digital asset cases and does not require a new system. The SFC also stressed that there was insufficient economic justification to push for new regulations.
Paul Grewal, a lawyer for Coinbase, responded that they are confident that the court will make the right judgment.
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