SEC Faces Criticism as Ripple CTO Highlights Regulatory Gaps in Crypto

Ripple’s CTO David Schwartz highlights the SEC’s insufficiencies. Coinbase recently won a petition against the SEC. Crypto industry stakeholders are wary of the SEC’s regulatory approach. Ripple’s CTO, David Schwartz, criticized the SEC’s regulatory approach following Coinbase’s recent legal win against the agency. Schwartz shared an excerpt highlighting how the SEC’s lack of clarity fails to provide adequate notice, violating due process requirements. https://twitter.com/JoelKatz/status/1878898324667048000 The shared text called out the SEC for applying broad rules to a diverse crypto industry. The Commission has focused on cryptos that resemble traditional stocks, ignoring the distinct characteristics of stablecoins, utility tokens, and other digital assets like Bitcoin and Ether. Crypto Industry Demands Tailored Regulations In the meantime, crypto community stakeholders decry the SEC’s silence over a tailored regulatory framework. The uncertainty leaves issuers and exchanges operating without assurance that their activities will not face future SEC action. Meanwhile, Coinbase’s Chief Legal Officer (CLO) Paul Grewal highlighted… The post SEC Faces Criticism as Ripple CTO Highlights Regulatory Gaps in Crypto appeared first on Coin Edition .