The post “Anything Can Come Out of the Coinbase Case,” Austin Campbell Says Things Don’t Look Good for the SEC appeared first on Coinpedia Fintech News
In an interview, Austin Campbell, the founder of Zero Knowledge Consulting, shared his views on the recent SEC subpoena of PayPal documents. Campbell expressed his concern about the SEC’s negative conduct in the crypto space, criticizing their lack of clear rules and tendency to expand their remit without transparency.
In an interview with Thinking Crypto, Campbell also discussed his dissatisfaction with the SEC’s approach, contrasting it with other regulatory bodies that clearly state their rules and guidelines. He emphasized the need for regulatory clarity to foster a fair environment. He criticized the SEC’s track record and questioned their motives in targeting PayPal, a regulated entity with a good track record in stablecoins.
Talking about coinbase 
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vs. SEC, he shared that legal outcomes are often partial and leave both parties dissatisfied. The ongoing case’s uncertainty could lead to unexpected decisions. He emphasized the need for clear regulations, pointing out that even a leading exchange like Coinbase struggles with unclear rules. The speaker urged Congress to act, warning that activities might move offshore without regulation.
“With anything in law, it will be a partial decision that both sides are unhappy with. We could see anything come out of the Coinbase case, and so far, it has not looked good for the SEC, to be clear, but as we work through the court system, you’re looking at anything from,” he said
The conversation delved into the root cause of the SEC’s actions, with Campbell suggesting factors like the agency’s lack of informed leadership, aggressive approach, and the absence of clear rules. He also touched on the challenges within the SEC, including issues of underpayment, overwork, and the need for a comprehensive overhaul.
Campbell shared his insights on the potential approval of a Bitcoin spot ETF in the next six months, linking it to the ongoing legal battle involving grayscale
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. He suggested that the SEC might approve multiple ETFs simultaneously to avoid favoritism.
#News #CoinbaseExchange #CryptoVsSEC [Source: Coinpedia]