{"id":65523,"date":"2026-08-03T09:43:40","date_gmt":"2026-08-03T09:43:40","guid":{"rendered":"https:\/\/bitcoinwisdom.com\/?p=65523"},"modified":"2026-08-03T09:43:40","modified_gmt":"2026-08-03T09:43:40","slug":"sec-chair-slams-coinbases-calls-for-crypto-rules-seeks-denial-of-petition","status":"publish","type":"post","link":"https:\/\/bitcoinwisdom.com\/pl\/sec-chair-slams-coinbases-calls-for-crypto-rules-seeks-denial-of-petition\/","title":{"rendered":"Przewodnicz\u0105cy SEC odrzuca wezwania Coinbase do wprowadzenia zasad kryptograficznych, domaga si\u0119 odrzucenia petycji"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><strong>The Chairman of the SEC, Gary Gensler, slammed Coinbase\u2019s calls for crypto regulation, stating that &#8220;the rules have already been published.&#8221;<\/strong><\/li>\n\n\n\n<li><strong>Gensler reaffirmed the fact that, apart from the world\u2019s largest cryptocurrency, Bitcoin (BTC), all other crypto coins are securities.<\/strong><\/li>\n\n\n\n<li><strong>The regulator also seeks the denial of a petition filed by Coinbase to force the SEC to establish clear crypto regulation.<\/strong><\/li>\n\n\n\n<li><strong>The agency stated that regulation may take years, and in the meantime, it will use enforcement actions as a substitute.<\/strong><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>The United States Securities and Exchange Commission (SEC) has been blamed for the lack of regulatory clarity in the United States by members of the crypto community and many crypto entrepreneurs. Interestingly, the leading crypto exchange in the US, <a class=\"wpil_keyword_link\" href=\"https:\/\/bitcoinwisdom.com\/coinbase-review\/\" title=\"Coinbase\" data-wpil-keyword-link=\"linked\">Coinbase<\/a>, recently filed a petition asking the regulator to establish rules for crypto firms. However, Chairman of the Commission, Gary Gensler slammed the claims of the crypto exchange, stating that the rules to regulate the industry already exist.&nbsp;<\/p>\n\n\n\n<p>In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about his agency\u2019s feud with the largest exchange in the US, Coinbase, regarding the establishment of clear rules for crypto regulations and why &#8220;the SEC doesn\u2019t publish rules for that market.&#8221; Gensler pointed out that &#8220;the rules have already been published,&#8221; while adding:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;To make it quite direct: this is a field that has been operating largely non-compliant. [&#8230;] There\u2019s nothing about a new technology that makes it non-consistent with the public policies that Congress has laid out.&#8221;<\/p>\n<\/blockquote>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"[FMC 2023] Afternoon Keynote, May 15\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/k-ueNvNwcnI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>The SEC Chair stated that his agency has already established clear rules regarding cryptocurrencies and what documents are required to custody assets, be an exchange, broker-dealer, or advisor. Gensler claims that the rules are crystal clear on how to register crypto offerings as securities with the regulator.&nbsp;<\/p>\n\n\n\n<p>Currently, the SEC Chair views every cryptocurrency, apart from the world\u2019s largest cryptocurrency, Bitcoin (BTC), as a security, even Ether (ETH), the world\u2019s second-largest crypto coin by market capitalization.&nbsp;<\/p>\n\n\n\n<p>&#8220;If the public is investing money and anticipating profit based upon the efforts of others, in a common enterprise, that\u2019s a security,&#8221; he stated while noting:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;There\u2019s financial intermediaries, nodes in the network, and they need to come into compliance if they\u2019ve got securities on their platforms.&#8221;<\/p>\n<\/blockquote>\n\n\n\n<p>As reported earlier by BitcoinWisdom, the regulator <a href=\"https:\/\/bitcoinwisdom.com\/coinbase-receives-a-wells-notice-from-the-sec-details\/\" class=\"ek-link\">issued a Wells Notice to Coinbase<\/a> claiming that the crypto exchange\u2019s staking services have not been registered with the agency as securities. Paul Grewal, the Chief Legal Officer for the crypto exchange, stated that the SEC did not mention many details in the Notice for the exchange to respond to.\u00a0<\/p>\n\n\n\n<p>Meanwhile, the CEO of the crypto exchange, Brian Armstrong, believes that crypto investors should try to <a href=\"https:\/\/bitcoinwisdom.com\/coinbase-ceo-demands-election-of-pro-crypto-lawmakers\/\" class=\"ek-link\">elect pro-crypto lawmakers<\/a>. &#8220;We are going to elect pro-crypto candidates in this country to make sure that our success is ensured,&#8221; said Armstrong after recently debuting the Crypto435 campaign to &#8220;grow the crypto advocacy community and share tools and resources.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SEC Seeks Denial of Petition<\/h2>\n\n\n\n<p>It is also important to mention here that on April 25, Coinbase kicked off a new NFT campaign called &#8220;Stand With Crypto&#8221; after it filed an action to force the SEC to respond to its regulation petition. On the other hand, the regulator has given an official response to the exchange\u2019s petition, stating that official regulations might take years and that, in the meantime, enforcement actions will continue.&nbsp;<\/p>\n\n\n\n<p>The SEC outlined in a court <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.ca3.119939\/gov.uscourts.ca3.119939.26.0_1.pdf\" class=\"ek-link\" rel=\"nofollow noopener\" target=\"_blank\">document<\/a> submitted on May 15 that it is under no obligation to respond to the requirements of Coinbase outlined in its petition, while also arguing that the firm has called for a complex set of reforms and rule-making in an unreasonably short amount of time.\u00a0<\/p>\n\n\n\n<p>Coinbase executive Grewal took to Twitter to acknowledge the regulator\u2019s response and stated that the agency answered &#8220;maybe&#8221; to a question that only had a &#8220;yes&#8221; and &#8220;no&#8221; as answers. <\/p>\n\n\n\n<p>Grewal stated that the agency\u2019s statement &#8220;reinforces&#8221; Coinbase\u2019s &#8220;longstanding concern&#8221; that the crypto industry &#8220;does not have clarity on what the SEC may consider to be within or outside its jurisdiction at any time, and it is likely to continue changing its mind along the way.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Today the SEC responded to Coinbase\u2019s petition for a writ of mandamus \u2014 asking the court to require the SEC to respond just yes or no to whether it will undertake rulemaking for our industry. The SEC\u2019s answer?   A resounding maybe. 1\/7<\/p>&mdash; paulgrewal.eth (@iampaulgrewal) <a href=\"https:\/\/twitter.com\/iampaulgrewal\/status\/1658271335066505217?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">May 16, 2023<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We look forward to the opportunity to reply formally next week. And as always, we continue to appreciate the Court\u2019s careful consideration,&#8221; Grewal added.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Przewodnicz\u0105cy SEC, Gary Gensler, ostro skrytykowa\u0142 wezwania Coinbase do regulacji kryptowalut, stwierdzaj\u0105c, \u017ce \u201ezasady zosta\u0142y ju\u017c opublikowane\u201d.<\/p>","protected":false},"author":21,"featured_media":65526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_uag_custom_page_level_css":"","footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[191,12],"tags":[135,172,267],"class_list":["post-65523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-talk","category-news","tag-blockchain","tag-crypto","tag-sec"],"acf":[],"uagb_featured_image_src":{"full":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2.jpg",1200,675,false],"thumbnail":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2-500x330.jpg",500,330,true],"medium":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2-300x169.jpg",300,169,true],"medium_large":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2-768x432.jpg",640,360,true],"large":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2-1024x576.jpg",640,360,true],"1536x1536":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2.jpg",1200,675,false],"2048x2048":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2.jpg",1200,675,false],"trp-custom-language-flag":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2023\/05\/SEC-2-18x10.jpg",18,10,true]},"uagb_author_info":{"display_name":"Parth Dubey","author_link":"https:\/\/bitcoinwisdom.com\/pl\/author\/parth\/"},"uagb_comment_info":0,"uagb_excerpt":"The Chairman of the SEC, Gary Gensler, slammed Coinbase\u2019s calls for crypto regulation, stating that \"the rules have already been published.\"","_links":{"self":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/posts\/65523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/comments?post=65523"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/posts\/65523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/media\/65526"}],"wp:attachment":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/media?parent=65523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/categories?post=65523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/tags?post=65523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}