SEC Evasive Response to Coinbase petition was still noncommittal

SEC long time silence to Coinbase petition simply means the United States Securities and Exchange Commission has unclear meaning and have nothing to take the company responsible but look for way to wind down their business.

Coinbase filed against SEC last year in federal court which SEC protracted silence to their request , according to Coinbase filing, the company is requesting united Securities Exchange Commission in a court order to point to the unregistered assets or duty that they are illegally performing before SEC said they offered sanctions the crypto exchange for offering unregistered security.

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In the lawsuit Coinbase asking the federal judge to request what SEC use to guide and set a rule for digital assets and what makes digital assets legally obligated. However Coinbase CEO Brain Armstrong again took the action against the SEC so serious last Monday after wait so long to get reply from its petition.

Though earlier this month the Securities Exchange Commission alleging that the company failed to register as an exchange, and broker which everyone knows this is not true, SEC don't have respond to Coinbase petition instead they come in cunning way to claims the company sold unregistered securities on its platform as well despite being a good service to investors.

Coinbase requesting rule making from SEC and after court ordered the federal regulator to respond to their petition, but the United Securities Exchange Commission remain silent and refuse to give time of respond to Coinbase petition. SEC silence has caught people attention that the federal regulator has no intention to provide what rule they use to regulate crypto industry that is why they deliberately ignored Coinbase petition requesting for clear rules for crypto even when Chairman Gary Gensler insisted rules for crypto regulations exist but still denying Coinbase petition.

Honestly I don't see why rules for crypto regulations exist but they refuse to made it clear to crypto industry. If they made it clear, crypto industry won't do business beyond their boundaries. You know when a business know the consequences behind any steps it will deprived them not to engage is any activity that will lead them into trouble, but failure to know areas where you don't supposed to do business will make them clueless.

Okay, Gary Gensler said there is clear rules for crypto but asking court to deny Coinbase's request for it is somehow war against crypto industry in United States. SEC has no intention to provide the rules, likewise ready to suffer the industry. I think the US government are the one playing the game of crypto, the made regulations to decide how crypto market behave.

Best regards @adedayoolumide