The post Coinbase Victory Forces SEC to Clarify Crypto Regulations: What Next? appeared first on Coinpedia Fintech News
Earlier this week, a three-judge panel in the Third Circuit ruled in favor of coinbase 
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Global Inc. (NASDAQ: COIN) in its legal fight against the U.S. SEC. The SEC had accused Coinbase of operating as an unregistered national securities exchange, broker, and clearing agency.
But what does this ruling mean for the future of crypto regulation in the U.S.?
Coinbase argued that under SEC Chair gary gensler
gary gensler
Gary Gensler is a pioneer and the current chair of the U.S. Securities and Exchange Commission. He has extensive experience that spans Wall Street, government regulation, and an angel teaching about cryptocurrencies and blockchain at MIT. Gary S. Gensler was on born October 18, 1957, in Baltimore, Maryland.He graduated from Pikesville High School in 1975, where he was later given a Distinguished Alumnus award. He also earned a degree in economics.Gensler served in the United States Department of the Treasury as Assistant Secretary for Financial Markets from 1997 to 1999, then as Undersecretary for Domestic Finance from 1999 to 2001He has expressed his desire to present crypto-related approach changes later on that include token commitments, decentralized finance, stablecoins, guardianship, exchange-traded resources, and advancing stages.
Chairman
’s leadership, the agency has failed to provide clear and specific regulatory guidance for the cryptocurrency industry. The company also criticized the SEC for using outdated rules that don’t fit with the modern world of blockchain and digital assets. Coinbase believes these outdated regulations are hurting the U.S. Web3 sector.
Could This Ruling Help Binance?
The SEC has brought similar charges against Binance Holdings, accusing the exchange of operating as a securities exchange, broker, and clearing agency without the required approval. After the recent ruling in the Coinbase case, which ordered the SEC to provide a clearer explanation of crypto regulations under federal securities law, Binance filed a notice of supplemental authority.
Previously, Binance had tried to get the SEC’s case dismissed, arguing that there was not enough evidence to show that digital assets violated the Howey test. On top of that, the U.S. Congress has yet to provide clear guidelines on crypto, leaving the regulatory environment uncertain for both Coinbase and Binance.
Trump’s Government & Crypto Policies
As the Biden administration nears the end of its term, many in the cryptocurrency industry are already looking to what could come under the Trump administration. President Trump has appointed David Sacks as the AI and crypto Czar and Paul Atkins as the new Chair of the U.S. SEC.
Experts are optimistic about the incoming administration’s plans for cryptocurrency. Trump has promised several executive orders on his first day, including creating a strategic Bitcoin reserve and ending the debanking of crypto companies. With these changes, many in the industry believe that most of the ongoing crypto-related legal cases will soon be resolved.
“The entire market is relieved. We have a seismic shift in the approach and tone of the government and regulatory agencies,” Frank Chaparro, an early Bitcoin adopter noted.
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With these changes on the way, the cryptocurrency industry is hopeful for clearer rules and a more favorable regulatory environment.
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