US Chamber of Commerce and Allies Rally Behind Coinbase in SEC Legal Battle

Several crypto groups have filed "amicus" briefs in support of Coinbase's request to force the SEC to respond to a petition for rules clarifying crypto's place in securities regulation. The groups collectively insist that the SEC is deliberately wrecking the young industry with an insistence that there's nothing distinct or special about crypto that warrants different treatment under securities laws. The legal fight between the SEC and Coinbase may soon be amplified as the agency has warned Coinbase it's going to be targeted with an enforcement action for violating securities laws.