BREAKING NEWS
The US Chamber of Commerce has just made a brief presentation in the case involving the cryptocurrency exchange Coinbase against the American regulator governing the securities sector, the SEC. In the presentation, the organization accuses the American regulator of "acting illegally" in the digital asset space and argues that the uncertainty surrounding the digital market is killing technological innovation in the United States.
The Chamber of Commerce does not stop there in its explanation and strongly accuses the Securities and Exchange Commission (SEC), alleging that the regulator is destabilizing the regulatory environment of digital assets and deliberately violating procedural and fair notification rights of the Constitution.
These statements by the US Chamber of Commerce, however brief, are a strong signal of support for Coinbase's cause and for a cryptocurrency industry that is seeking regulation of digital assets by the regulator. The US Chamber of Commerce is an entity that represents businesses in all sectors and has considerable influence in the American market.
By presenting the document, the US Chamber of Commerce is stating that uncertainty regarding the regulation of digital assets is a problem that affects not only the cryptocurrency ecosystem but an entire universe of industries. Additionally, the Chamber is declaring its support for cryptocurrencies by taking a stance against the SEC's action.
Therefore, this is great news for the cryptocurrency sector, as the US Chamber of Commerce is the largest and most influential business organization in the United States and, by advocating for clarification of the law that regulates digital markets, alerts the regulator that it is necessary for them to take action that could position the crypto sector in the United States as a true hub.
Meanwhile;
Paul Grewal, the Chief Legal Officer (CLO), shared a tweet that provides some statements regarding the mandamus petition that Coinbase incurred against the SEC and states that the Court is granting the requests presented by the friends of the court (Amicus curiae) that were not contested by the parties involved in the action.
It is worth noting that a mandamus petition is a judicial writ in which an entity or individual asks a court to issue an order requiring a government authority to do something or refrain from doing something.
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