Gemini Chief Legal Officer: Judge criticizes SEC's cryptocurrency regulatory approach

Odaily Planet Daily News: Gemini's Chief Legal Officer Tyler Meade mentioned in an article on X the Coinbase v. SEC case, in which the court criticized the agency for flatly rejecting Coinbase's request for clearer regulation of digital assets. Meade stated that Third Circuit Court Judge Stephanos Bibas pointed out that the SEC's decision was arbitrary and capricious, and noted that the agency failed to provide comprehensive reasons to explain its refusal of Coinbase's request. Judge Bibas raised concerns about due process in his opinion, pointing out that the SEC's enforcement strategy lacks transparency and fails to provide clear compliance guidelines for cryptocurrency companies. Judge Bibas wrote in the judgment of the Third Circuit Court of Appeals: 'The SEC has repeatedly sued cryptocurrency companies for not complying with the law, but has not told them how to comply.'. This cunning has caused serious constitutional issues, while due process ensures fair notification. The SEC implements de facto bans through enforcement, thereby bypassing the rule making process. People may doubt whether an institution whose mission is to maintain a fair, orderly, and efficient market has the authority to ban an emerging technology （Cryptonews）