Coinbase Accuses SEC of Stifling Crypto Industry with Regulation-by-Enforcement Strategy

Coinbase has accused the U.S. Securities and Exchange Commission (SEC) of employing a regulation-by-enforcement strategy to deliberately stifle the cryptocurrency industry. In a May 31 filing with the U.S. Court of Appeals, Coinbase critiqued the SEC’s reluctance to establish clear and equitable regulations for the crypto sector, which they argue is intended to “choke” the industry’s growth. In the document, Coinbase expressed frustration with the SEC’s approach, stating, “The SEC is serious about the destruction of digital assets.” The filing highlighted the agency’s apparent disinterest in negotiating fair rules, noting that giving the SEC more opportunities to clarify its position