Regulatory Battle: DeFi Week of May 14

The Defiant

Weekly Recap

Happy weekend Defiers! Here’s what we covered this week!

The battle over how to regulate crypto in the United States wages on, with the Securities and Commission refusing to respond to a legal action from Coinbase asking the agency to deliver regulatory guidelines for the crypto industry on Monday.

Coinbase wants the SEC to develop clear web3 regulations informed by public input per its formal rulemaking process, and to end its current campaign of regulation-by-enforcement. Industry stakeholders criticize the SEC for claiming every cryptocurrency barre Bitcoin is a security per the 1933 Securities Act.