Wyoming U.S. Senator Cynthia Lummis has heavily criticized the recent legal action of the Securities and Exchange Commission (SEC) against Coinbase, stating that it might push the cryptocurrency industry and its innovation offshore. Lummis also remarked that the SEC has failed to streamline a path for cryptocurrency companies like Coinbase to regularize their operations.
U.S. Senator Cynthia Lummis Criticizes Lack of Diligence on Crypto Regulation
Politicians and senators have begun to issue their opinions about the latest actions that the U.S. Securities and Exchange Commission (SEC) is taking against cryptocurrency companies in the country. Senator Cynthia Lummis has recently stated her disagreement with the stance that the institution has taken against Coinbase, which was accused of providing illegal brokerage services and offering unregistered securities to its customers.
In a statement on this specific legal action, Lummis blasts the SEC, stating that it has failed to service the
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