In a recent development, the U.S. Securities and Exchange Commission (SEC) has made a firm decision regarding Coinbase Global Inc.’s petition for new regulatory rules in the digital asset sector. The Coinbase SEC petition was denied by the regulatory authority, citing sufficiency of “existing laws.”

Coinbase SEC Petition: What Happened?

Coinbase, the largest digital asset exchange in the U.S., sought new regulations from the SEC, arguing that existing regulations were inadequate for the industry. However, the SEC, in a 3-2 vote, denied the petition, stating a fundamental disagreement with Coinbase’s claim that current regulations are “unworkable” for the…

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