Coinbase and Justin Solar each have SEC fees

In latest days, the US Securities and Alternate Fee (SEC) charged Coinbase and Huobi international advisory board member Justin Solar.

Solar responded to the accusations on social media, saying that the SEC’s allegations had been baseless and that he would proceed to construct a decentralized monetary system. Solar added that the SEC motion in opposition to him is simply the most recent instance of the company taking motion in opposition to a high-profile participant within the blockchain and cryptocurrency trade.

Solar mentioned the regulatory framework for digital belongings remains to be in its early levels and wishes additional improvement. He mentioned he hopes to work with governments and regulators around the globe to develop clear regulatory tips for the cryptocurrency trade, which is essential to this work.

Solar cited the instance of Dominica, the place TRX and BTT will likely be accepted as authorized tender, as a possibility for collaboration and partnership.

The SEC has taken motion in opposition to a number of main gamers and establishments within the cryptocurrency market, together with Gemini, Genesis, Coinbase and Kraken. Coinbase, a well-liked cryptocurrency buying and selling platform, acquired a Wells discover from the SEC right this moment. (The Wells discover is an off-the-cuff discover the SEC sends to corporations earlier than submitting a civil lawsuit in opposition to them, giving them a possibility to barter with the company.)

Coinbase responded to the announcement by calling for clear and dependable regulation of cryptocurrencies. CEO Brian Armstrong reiterated his dedication to work with officers and regulators around the globe to create clear guidelines for the cryptocurrency trade.

The fees filed in opposition to Coinbase and Solar mirror a broader push by the SEC to ascertain clearer tips for the regulation of digital belongings. The company is grappling with regulate the nascent cryptocurrency trade, which has grown quickly in recent times. Critics of the SEC’s strategy say the company’s present regulatory framework is obscure and stifles trade innovation.

Coinbase and Solar’s response to the allegations underscores the necessity for higher transparency and readability in cryptocurrency regulation. Because the trade continues to develop and mature, regulators around the globe might have to work collectively to develop clear tips for digital belongings.