Coinbase: SEC Response Reinforces Concern Over Crypto Regulation


  • Ex-Ethereum developer called Open AI founder’s Worldcoin project ‘unrealistic and scary’.
  • EU finance ministers unanimously greenlight MiCA regulations.
  • Coinbase’s Chief Legal Officer Paul Grewal said the U.S. Securities and Exchange Commission’s (SEC) response to its legal action reinforces the exchange’s concerns about the financial regulator.

Ex-Ethereum Developer Calls Worldcoin Project “Unrealistic and Scary”

An ex-Ethereum developer has called the Open AI founder’s Worldcoin project „unrealistic and scary“. Justin Sun, CEO of Tron Foundation, has also accused Huobi’s founder’s brother of freeloading on HT token. The EU finance ministers have unanimously greenlit MiCA regulations that will bring more clarity in digital asset class.

BNY Mellon Focuses On Digital Assets Without Crypto Involvement

BNY Mellon, one of the world’s leading banking institutions, is focusing on digital assets without involving any crypto activities. The company believes that tokenization is going to be the next wave of securitization in the market. Hedge fund billionaire Paul Tudor Jones also weighed in on this issue by saying that „the entire US regulatory apparatus is against Bitcoin“.

Coinbase Responds To SEC Response On Regulatory Framework Demand

Coinbase chief legal officer Paul Grewal said that the U.S Securities and Exchange Commission (SEC) response to its legal action reinforces Coinbase’s concerns about the financial regulator. In a May 15 court filing, SEC wants to reject Coinbase request for providing a new regulatory framework for crypto industry, arguing that it was under no obligation to do so. According to SEC, „neither securities laws nor Administrative Procedure Act impose an obligation on SEC to issue broad new regulations regarding ‚digital assets‘ Coinbase has requested.“

Coinbase Says SEC Response Reiterates Concern About Regulatory Actions