Aug 15, 2023

The Chamber of Digital Commerce's vice president of policy, Cody Carbone, speaks out about the U.S. Security and Exchange Commission's approach to crypto regulation.

Video transcript

Yeah, absolutely. The SEC, as we all know has been on a tirade against the digital asset industry. And so cases like this when they're going after a really good actor like coin base gives the industry an opportunity to kind of voice their opinions and fight back. We believe that the SEC is acting unconstitutionally um against the separation of powers and the major questions doctrine. I'm sure we've heard a lot about as well as due process. The SEC has been filing these enforcement actions against the industry without any rhyme or reason and in favor of doing them instead of rule making. And so as we have seen in Congress and we are discussing and debating all of these different legislative proposals that would change the jurisdictional lines of who gets to regulate the digital asset industry. The question is up in the air, should it be the SEC? Should it be the CFTC? And the SEC is trying to regulate the entire industry? And we thought it was necessary to fight back and claim that that was improper.

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