By Chaka Ferguon
Coinbase just picked up a major ally in its fight against the Securities and Exchange Commission (SEC)…
Coinbase is the largest U.S.-based crypto exchange, with over 100 million customers and $80 billion in assets under management.
In March, the SEC accused the exchange of offering and selling unregistered securities in violation of federal law.
The SEC has used unregistered offering and sale violations to force other crypto exchanges to close services in the U.S., including crypto exchange Kraken.
Last month, Coinbase sued the SEC, asking a federal judge to force the regulator to share its answer on Coinbase’s July 2022 petition on whether existing securities rule-making processes could be extended to the crypto industry.
On Friday, Coinbase added a powerful ally: the U.S. Chamber of Commerce.