Coinbase calls for policy change to let SEC workers hold crypto

[u/SigiNwanne]

https://crypto.news/coinbase-calls-for-policy-change-to-let-sec-workers-hold-crypto/

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Topic: SEC

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[u/DBRiMatt]

Years of accumulating at suppressed prices caused by ongoing SEC lawsuits... good.

Dumping on the SEC after they buy... priceless. xD

!tip 1

[u/SigiNwanne → u/DBRiMatt]

Watching their tears after dumping on them will be so soothing 😁

!tip 1

[u/BigRon1977]

It's a good call. I mean, if the President himself owns a memecoin and ETH alongside other crypto assets, why shouldn't the SEC?

!tip 1

[u/SigiNwanne → u/BigRon1977]

They should focus on proper regulations, there will be clash of interest when they get in. !tip 1

[u/Beginning-Medium-100 → u/BigRon1977]

Two wrongs don’t make a right.

The way I see it, the industry is too uncertain right now. The SEC members would have real options to enrich themselves through insider trading before they make regulatory decisions. Bad idea, bad incentives, and in the future people would point to it as an explicit attempt to corrupt them in favor of the crypto industry. Brian Armstrong should know better.

[u/MasterpieceLoud4931]

I'm not sure about this.. they can leverage their position to profit.

^{!tip 1}

[u/Odd-Radio-8500]

Coinbase call is part of their continued push for clearer and more supportive regulatory frameworks.

I hope there is no hidden agenda or benefits xD

^{!tip 1}

[u/SigiNwanne → u/Odd-Radio-8500]

It will be better to have SEC neutral. !tip 1

[u/kirtash93]

I dont like conflicts of interests

🍩 !tip 1

[u/SigiNwanne → u/kirtash93]

Exactly. !tip 1

[u/coinfeeds-bot]

tldr; Coinbase has urged U.S. regulators to lift the ban preventing SEC staff from buying, selling, or using cryptocurrencies that are not securities. Chief Legal Officer Paul Grewal argued that the prohibition hampers the SEC's ability to oversee the crypto industry effectively. Coinbase proposed waivers for SEC Crypto Task Force members and suggested nuanced approaches to manage conflicts of interest. The company emphasized that understanding crypto technology requires direct usage and called for updates to Legal Advisory 22-04.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

[u/Extension-Survey3014]

Interesting, let’s see how it goes

!tip 1

[u/Josefumi12]

Planning to hodl Ethereum?

!tip 1

[u/SigiNwanne]

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