U.S. SEC Denies Coinbase’s Push for Crypto Regulations as ‘Unwarranted’

“The commission disagrees with the petition’s assertion that application of existing securities statutes and regulations to crypto asset securities, issuers of those securities, and intermediaries in the trading, settlement, and custody of those securities is unworkable,” the five-member commission concluded in its two-page response, which said the agency had given the request careful consideration. “The commission concludes that the requested rulemaking is currently unwarranted and denies the petition.”