Coinbase Counter Striking the SEC?

Some days ago I wrote about Coinbase thinking of moving out of US if the uncertainty about cryptocurrency regulation remains in the country.

Recently, the CEO of Coinbase, Brain Armstrong indicated that he may not ruled out relocating the exchange moving away from US if the regulatory uncertainty for the industry remains in the country.

Read the article here.

Coinpedia

Now, on Monday, Coinbase has asked a federal court to force the Securities and Exchange Commission in US to respond to a petition that it has filed last year for formal rules for the cryptocurrency and particularly whether the current securities laws applies to the digital assets.

This move from Coinbase comes after the platform was warned by the SEC that it expected to sue Coinbase over the allegations of listing and offering securities that are unregistered.

The concern doesn't seem to be only by the crypto exchange Coinbase, I have seen another entity and a user on Hive as well showing their concern.

The US has the potential to be a big market for the crypto industry but due to the regulatory uncertainty in the country, it doesn't seem to be a favorable thing for the industry to flourish.

Besides Coinbase, the crypto exchange Bittrex also has received a Wells notice from the Securities and Exchange Commission of US.

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