Coinbase Tried to Rein in a Renegade SEC That’s Trying to Rein in a Renegade Industry

In fact, in a remarkable bit of circular reasoning, the SEC specifically notes that its view on cryptocurrency is informed by “data and information” gleaned from the legal “undertakings … the Commission is currently pursuing.” In other words: The SEC, which is pursuing securities charges against crypto firms, cannot consider changing the rules that uphold those legal actions, because of information it has learned pursuing those cases.