May 17, 2023
📄 SEC responded to Coinbase regarding the regulation of the crypto industry
⏺ Establishing a regulatory framework for regulation may take years, but the SEC is in no hurry.
⏺ For the foreseeable future, the SEC will continue to use enforcement action instead of rulemaking.
⏺ These enforcement measures will “inform” about as yet unplanned rulemaking.
⏺ Gensler's public statements are not official guidance from the SEC to the public.
Coinbase's conclusion on this matter is that the industry is not clear about what the SEC considers its jurisdiction and what it does not. And she can change her mind along the way.