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• The Securities and Exchange Commission (SEC) finally responded to the mandamus petition submitted by Coinbase in court, demanding that the agency provide a "yes or no" clarification regarding the law regulating the cryptocurrency market.
• The regulator responded, but with a big "maybe." After all, they are not in a hurry to create a law regulating digital assets and will continue to enforce regulations on the industries operating in this market.

It seems that the American regulator and the crypto industry will still be at odds for a long time. The agency finally responded to the mandamus petition submitted by the giant cryptocurrency company, Coinbase. However, to the great surprise of the entire market, they simply replied that they may possibly have a clear law one day, but they are not in a hurry to develop one to regulate the crypto ecosystem.

Based on the agency's response to Coinbase's mandamus, the American regulatory agency has not yet made any decision on whether to implement specific regulations for the cryptocurrency industry. By responding "maybe," the agency does not indicate an immediate possibility of creating a law, but it may be considered by the government agency.

The securities market regulatory agency even states that the regulatory process could take years and that there is no need to rush, demonstrating that creating a law for the industry is not a priority. However, enforcement is a priority.

Yes, enforcement is important for them, because despite not drafting specific legislation for the digital market, the agency will not stop or reduce cracking down on companies operating in the crypto market. They will continue inspections and punish those they consider to be working outside the law, even though it is not clear yet what law will be implemented. However, in the response provided to the mandamus request, the regulator states that during inspections, they may eventually provide information and guidance for future regulations.

And there's more! In the response to Coinbase's petition, the agency states that the statements made by President Gary Gensler cannot be taken into account or considered as formal guidance since they do not reflect the intentions of the agency regarding the cryptocurrency sector.

Overall, the response from the Securities and Exchange Commission (SEC) demonstrates a lack of interest in creating a clear law for the cryptocurrency market and reinforces regulatory uncertainty in the American market concerning the crypto industry. By responding with a "maybe" to the possibility of creating a clear law for the digital market, the regulatory entity also creates an environment of uncertainty for companies operating in the market, which may lead many to seek other locations to continue their business.

The regulator creates a great deal of doubt in the crypto ecosystem. Although their approach leaves room for the possibility of creating regulatory legislation at any time, they leave the market in a state of panic and generate uncertainties and challenges for cryptocurrency companies like Coinbase and others. This statement from the SEC does not help the crypto ecosystem in any way and may cause the American market to lose its leadership position in the cryptocurrency market, largely due to the regulator's uncompromising stance on creating an exclusive law for the crypto industry.

Therefore, SEC's response does not reflect the integrity of an institution of its caliber. By responding with a "maybe," it only increases the desire for crypto companies to relocate their headquarters to more crypto-friendly locations. Companies like Coinbase are already eyeing places like the United Arab Emirates, which have clear laws for the cryptocurrency market, and Bermuda, where they have already obtained a license to operate an offshore exchange.

Another aspect of the SEC's response concerns the development of the industry in the United States. With this kind of behavior, they will drive the industry away to other locations, causing the public coffers to lose millions of dollars in taxes that could have remained in the American territory, not to mention that technological innovation will decrease in this field. While Gary plays around, the American market may lose its power in the field of technological innovation in cryptocurrencies due to its actions.

What do you think of the SEC's response? Do you believe it is what the market needs at the moment? Please leave your comment below.