Coinbase has filed a complaint against the U.S. Securities and Exchange Commission for not laying down clear guidance and enforcing the rules inconsistently. Anyone who's been following the news in the last 2-4 weeks will know the cataclysmic effects of the SEC's crypto crackdown and the amount of money its cost U.S. based exchanges and service providers. However, lots of big exchanges have avoided any scrutiny from the SEC for doing the same as everyone else. So why are the SEC only targeting specific exchanges? The real answer is we may never know.  

The SEC have not specified which rules exchanges should follow and are suing based on rules that are meant for other industries. 

Coinbase's complaint aims to solve this issue and get the SEC to lay down industry specific rules so that exchanges know what they have to do to avoid being sued. This isn't the first time that Coinbase has been involved with U.S. officials about crypto regulation either. They have, for a long time, been a major advocate for clear and distinctive crypto regulations which the SEC has not given them. 

Coinbase has also said, in the past, that if the U.S. government cannot come together and solve this issue then they will be left behind in the crypto industry as major companies move elsewhere.

Coinbase also recently acquired a licence to operate in Bermuda which is the biggest hint yet that they are thinking of moving offshore themselves. 

To help me keep writing articles follow, like, leave yourself a big tip, and have a great rest of your day.

QUICK DISALIMER!!!

This is was not intended to be investment advice! The article you have just read was written by an incompetent fool. Please always double check the facts and do your own research.