New Lawyer Enters Coinbase Vs US SEC Lawsuit

Motion For Entry in Coinbase Vs US SEC

According to a court filing on August 31, lawyer Patrick V. Kennedy at McDermott Will & Emery filed a motion to appear pro hac vice as counsel for amicus The Chamber of Digital Commerce. Along with the Blockchain Association, the Chamber of Digital Commerce has been a primary amicus in the Coinbase vs SEC lawsuit.

advertisement

The Chamber of Digital Commerce wants to end the SEC’s attempt to regulate the digital asset industry by enforcement actions. As opposed to providing clear guidance and rules, the SEC’s actions are against both chambers of the U.S. Congress, which are working on crypto regulations. In fact, the Congress never granted authority to the SEC to regulate digital assets.

Meanwhile, Coinbase executives Brian Armstrong and Paul Grewal are confident about the dismissal of the lawsuit. Grewal asserts that the SEC and Chair Gary Gensler are trying to kill the crypto innovation in the U.S. Legislators have also urged the court to dismiss the lawsuit.

Ripple and Grayscale rulings have cleared that the SEC lacks understanding on which crypto are securities, indicating a lack of clear regulations.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Trading Bots List 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Read More: XRP Lawyer Deaton And Top Analyst Predict Binance And Coinbase’s Win Against US SEC

SEC Losing Its Credibility

The SEC lost against Ripple and recently against Grayscale for rejecting Bitcoin ETF conversion without proper reasoning. SEC Chair Gary Gensler believes that all cryptocurrencies except Bitcoin are securities and the agency has jurisdiction over the crypto industry.

However, the SEC losing its credibility by making unlogical assertions related to crypto. The SEC has also delayed the decision on seven Bitcoin ETFs, causing loses to investors.

Also Read:

  • The US SEC Delayed All 7 Spot Bitcoin  ETF Applications, What’s Next?
  • BTC Price Prediction: Bitcoin Rejected At $27k, Is $20k Imminent?
  • Terra Luna Classic (LUNC) Proposes A Decentralized Debit Card

Comments

Post a Comment

Popular posts from this blog

XRP Down 20% in a Month: Is the Bull Run Over?

Image
Ripple’s native token XRP is down close to 20% in a month. The downturn indicates that the bull run could be over as its price is on a slippery slope. While bulls were expecting the leading altcoin to breach the $4 mark, it now looks like it could fall below the $2 range. Investors are skeptical of taking an entry position, believing that the altcoin is yet to bottom out in price. Also Read: AI Models Reveal How Ripple May Surpass Rival Cryptos Will XRP Rise Again? Source: Coin Edition Yes, XRP will rise again, and that’s the way the market functions in a cyclic manner. The rise, fall, and sideways trading is the norm, but the million-dollar question is, how long will it last? Nobody, not even a seasoned investor, can crack the market timing, as it’s the only thing that cannot be tamed or controlled. Also Read: Canary Capital Sets Nov. 13 Launch for XRP ETF After SEC Shift Leading on-chain metrics and price prediction firm Wallet Investor has painted a bearish picture ...
Read more

Bitcoin Price Slumps 5% As Unemployment Data Stokes Recession Fears, Yet Investors Flock To 99BTC Presale With Less Than 3 Days Left

Image
The Bitcoin price plunged 5% in the last 24 hours to trade at $61,489 as of 11:58 p.m. EST on trading volume that surged 14% to $45 billion. The dive followed economic data in the US that showed hiring slumped, while unemployment rose for a fourth month in July, stoking fears that the Federal Reserve may have waited too long to start lowering interest rates. Some Fed watchers are now concerned that the central bank should have decided at a meeting this week to lower rates for the first time in four years. This could have allowed them to get ahead of a slowing US economy without risking it tipping into a recession. Bitcoin Price Bearish – Could The Bulls Stage A Trend Reversal? The Bitcoin price continued with the bearish trend, dropping below the 200-day Simple Moving Average (SMA) according to our Analysis yesterday, dropping to $60,640. BTC now trades below the lower boundary of the falling channel and below the 50-day and 200-day SMAs, which support the bearish stance. ...
Read more

Crypto Chart Patterns Explained: How to Read Bitcoin Charts

Image
You may have come across terms thrown about in the crypto space, such as “head and shoulders,” “rising wedges,'' and “cup and handle.” These are used by traders when analyzing crypto chart patterns. In this guide, we will explain how to read bitcoin charts and highlight popular crypto chart patterns you should know. What is Chart Analysis?  To determine whether to take a long or short position when trading bitcoin, you can use charts that provide you with timely insights. Technical analysis can help traders to assess price trends and crypto chart patterns to spot trading opportunities.  Technical analysis involves the analysis of past trading activity and price fluctuations of an asset, which can help to predict future price movements to some degree. Technical analysis uses patterns in price information to identify trends and make predictions.  Bitcoin chart Analysis is important in the sense that traders can interpret ch...
Read more