This week, a major statement was released by the U.S Chamber of Commerce in support of crypto, and even openly criticizing the SEC’s actions as being “unlawful” in the digital assets market. What’s more, this statement was even filed to the Coinbase v SEC case, giving it extra legal importance.
The US Chamber of Commerce is a major player in the US digital sphere, with a wide reach in the sector and in the wider industry. Their word holds a lot of weight, and is sure to be given serious consideration in the court of the Coinbase v SEC trial.
The statement itself was a powerful one, knocking down the SEC’s authority in the space. The most damning section reads: “As it stands today, nobody knows for certain which digital assets, if any, are securities under federal law.” This lack of knowledge and regulation makes the SEC’s attempts to sue crypto companies under securities law a particularly weak argument.
Overall, it’s great to see that crypto is gaining more and more support from big players like the U.S Chamber of Commerce. This is sure to give crypto companies a major boost in the face of any unlawful lawsuits they may face.