Coinbase, a notable digital asset company in the United States, is suing the Securities and Exchange Commission (SEC) to compel the financial regulator to respond to a petition submitted by Coinbase in July 2021. Due to the unique nature of digital assets, the petition sought regulatory clarification and guidelines.
Coinbase appears to have another crypto industry giant joining them in their lawsuit against the SEC.
Binance to join Coinbase in suing SEC
Fox Business journalist and producer, Eleanor Terret, took to Twitter to share information from a source close to Binance about the possibility of the exchange joining Coinbase in their lawsuit against the SEC.
According to Terret’s tweet, Binance’s leadership is reportedly very supportive of Coinbase’s mission to bring more clarity and reason to US crypto regulations.
However, the tweet also acknowledged that the company is currently dealing with the aftermath of FTX’s campaign in Washington DC, which painted Binance’s Canadian CEO CZ as a Chinese communist.
This has led to concerns that Binance’s involvement in the lawsuit discussion could potentially be counterproductive at this point.
It remains to be seen whether Binance will ultimately decide to join forces with Coinbase or not.
Source: https://coinpedia.org/news/will-binance-exchange-join-coinbase-in-its-lawsuit-against-sec/