The legal confrontation between Coinbase and the Securities and Exchange Commission (SEC) of the United States took a new round, with senator Cynthia Lummis Cynthia Lummis Cynthia Lummis is a senator from Wyoming, in the United States. It has a net value ranging from $ 20 million and $ 75 million. On the advice of her son-in-law, she bought Bitcoin and became the first American senator to have a cryptocurrency. It has no less than $ 230,000 in Bitcoin. She adopted her duties on January 3, 2021, the term ended on January 3, 2027. She has always focused on the defense of the future of Wyoming. She fought against her entire career to fight against families, communities, companies and values of Wyoming. From the corridors of the house of Wyoming in the corridors of the American house. Lummis was born on September 10, 1954 and graduated from the University of Wyoming, obtaining a baccalaureate in animal sciences and biology. She also produced a law doctor from the University of Wyoming College of Law. His career experience includes work as general councilor of the former Wyoming governor, Jim Giner, of the Wyoming House of Representatives, as Wyoming Treasury, and in the House of US Representatives in the District Congress which is between Wyoming. In 1990, she also worked as president of the Governor’s campaign of Mary Mead and the Governors’ campaign of Ray Hunkins in 2006, also sat on the presidential committee of Bob Dole in Wyoming. Thanks to its very beneficial cryptographic position, it has developed the reception and equitable directives of computerized resources in the United States. She voluntarily organized an excellent base for herself as a major Bitcoin financial lessor. It should continue to encourage the development of the cryptocurrency industry in the United States and all over the world in 2022. She had always sought a reserve of value, and she thinks that Bitcoin is specifically a big value store and knew That rarity will protect its value in the future, unlike the American dollar that they print more of each day. Investor Intervene to support the exchange of crypto. She filed a memory of Amicus, accusing the dry of going beyond her authority and bypassing the congress to impose unclear rules on digital assets.
Lummis opposes the actions of the dry
On January 24, Senator Lummis submitted a friendly file to the American Court of Appeal for the second circuit, storing with Coinbase in his current legal battle with the SEC.
In his file, Lummis criticized the regulatory approach to the dry under former president Gary Gensler Gary Gensler Gary Gensler is a pioneer and the current president of the American commission for securities and exchange. He has a wide experience that extends over Wall Street, government regulations and a teaching angel on cryptocurrencies and Blockchain at MIT. Gary S. Gensler was born on October 18, 1957 in Baltimore, Maryland, he graduated from Pikesville High School in 1975, where he then received a distinguished former prize. He also graduated in economics. Later, in particular the commitments of token, decentralized finances, stabbed, guardianship, resources negotiated on the stock market and advanced stages. President The opaque and harmful caller for the separation of powers.
Lummis argues that the SEC unfairly reinterpreted existing securities laws without providing clear directives, forcing cryptographic societies to follow new rules without notice.
Should Congress control the crypto?
The Lummis deposit reinforces the position of Coinbase, in particular with regard to the use by the dry of the Howy test, a legal standard which determines if an asset is a title. She thinks that Congress, not dry, should be the one who decides how digital assets are classified and regulated.
Its move arrives at a crucial moment when the dry goes through a change of leadership. With Mark Uyeda now acting as president, there are speculations that the agency could adopt a more balanced approach to cryptography regulations. Uyeda has already set up a crypto working group to develop a clearer framework, signaling a potential change in the direction of the dry.
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Nothing retains Coinbase
The SEC continued Coinbase in 2023, accusing the company of having acted as an unregistered, exchange and clearinghouse broker. Coinbase rejected, arguing that the rules of the dry were not designed for digital assets and that its actions are incoherent.
Despite the current legal problems in the United States, Coinbase continues to develop worldwide. Recently, Coinpedia News reported that the exchange had obtained a license in virtual asset service provider (Vasp) in Argentina, allowing it to operate legally and develop its presence in the region.
Under the leadership of Matías Alberti, Coinbase focuses on the construction of a stronger presence on the Latin American cryptography market.
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