SEC chair, lawmakers are ‘gaslighting,’ CryptoLaw founder says
CryptoLaw founder John E. Deaton is clapping back at U.S. Securities and Exchange Commission (SEC) chair Gary Gensler after a proposal from Coinbase to create new crypto-specific rules was rejected. This week, the SEC rejected Coinbase’s 30-page “petition for rulemaking.” Gensler contends that the current securities framework adequately governs crypto asset securities and is actively addressing the crypto securities markets through rulemaking and enforcement. The SEC’s decision prompted Coinbase to file an immediate court challenge. The company has sought a review from the U.S. Court of Appeals for the Third Circuit, asserting that the SEC’s refusal to engage in rulemaking was arbitrary. The SEC argues that it is already addressing the crypto securities markets through rulemaking and enforcement actions. Deaton took issue with Gensler’s comments on social media, accusing the SEC chair of “gas lighting the American people.” @G...