Coinbase Faces SEC Suit Following Similar Action Against Binance

The SEC has launched a suit against Coinbase, hot on the heels of a similar legal move against Binance. This escalation has provoked conversation about the need for more specificity in crypto asset laws. Ashley Ebersole, 0x Labs Chief Legal Officer, and former SEC Senior Counsel, states that "the law cannot continue without some specificity that allows for the unique aspects of crypto assets." Despite Coinbase's attempt to work with the SEC, the desired outcome did not materialize. Ebersole concludes, Coinbase is "funded and has resources to and can do that, but that again, depends on the SEC staff being willing to work with it to do that because you need both sides to make those processes move along."