With Donald Trump taking office, top-level institutions like the SEC are taking a moderate approach towards cryptocurrencies.
At this point, while the SEC has withdrawn its lawsuits against many platforms such as Coinbase and Robinhood, Coinbase is pressuring the SEC for clearer crypto regulations.
Coinbase, the largest cryptocurrency exchange in the United States, has requested the SEC to clarify its jurisdiction over digital assets, The Block reported.
While listing the steps that the SEC could take regarding cryptocurrencies, Coinbase requested that the SEC distinguish cryptocurrencies from securities, consult the US Congress regarding regulatory uncertainties, and accept that secondary market transactions of cryptocurrencies are not securities.
Coinbase also requested that traditional securities be allowed to be tokenized.
Faryar Shirzad, chief policy officer at Coinbase, said:
After four wasted years in which Congress, the administration and regulators appeared intent on causing confusion, everyone understood the urgency to provide clarity in these markets.
What we always want from the institution is the opportunity to be heard and for all stakeholders to participate in the deliberative process on how to regulate these markets and provide clarity to market participants.”
Coinbase recently emphasized that with the SEC changing its stance on cryptocurrencies under the Trump administration, clear rules are now needed to support market growth and stability.
*This is not investment advice.
