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U.S. lawmakers and crypto firms push back against SEC ‘regulation by enforcement'
In the wake of several high-profile enforcement actions from the U.S. Securities and Exchange Commission (SEC) this week – including lawsuits filed against the two largest cryptocurrency exchanges in the world – the crypto community is rallying to support Coinbase and Binance and is collectively lambasting the actions taken by the regulator as heavy-handed regulation by enforcement. “The SEC has failed to provide a path for digital asset exchanges to register, and even worse has failed to provide adequate legal guidance on what differentiates a security from a commodity,” said Senator Cynthia Lummis (R-WY). ... (full story)