Chamber of Digital Commerce Policy VP Criticizes SEC’s Aggressive Stance on Crypto Industry Regulation
During an interview, Cody Carbone, the Vice President of Policy at the Chamber of Digital Commerce, expressed his concerns regarding the regulatory stance the US Securities and Exchange Commission (SEC) has adopted toward the cryptocurrency industry.
Carbone highlighted that the SEC’s approach towards the digital asset sector has been notably aggressive.
He emphasized, “The SEC, as we all know, has been on a tirade against the digital asset industry...We believe that the SEC is acting unconstitutionally.”
Carbone elaborated on his perspective, indicating that he believes the SEC’s actions might infringe upon certain constitutional principles.
He continued, “The SEC has been filing these enforcement actions against the industry without any reimer reason, and in favor of just doing them instead of rule makings.”
The association contested the SEC’s authority over digital assets as securities, citing constitutional concerns about the agency’s enforcement-focused regulatory approach.
The Chamber of Digital Commerce (CDC) stated that this strategy jeopardizes the US digital asset industry and its stakeholders.
“In ongoing congressional debates, the question of regulatory jurisdiction for the digital asset industry remains uncertain – should it fall under the SEC or CFTC?”
“The SEC’s attempt to oversee the entire industry compelled us to take action,” the company remarked, referring to its involvement in the legal dispute between cryptocurrency exchange leader Coinbase and the US Securities and Exchange Commission (SEC).
On August 11th, the Chamber of Digital Commerce (CDC), a prominent blockchain trade association, took a significant step in the ongoing legal dispute involving the Securities and Exchange Commission (SEC) and
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