{"id":12649,"date":"2022-08-01T22:21:53","date_gmt":"2022-08-01T22:21:53","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/the-gap-between-crypto-and-the-sec-is-widening-legal-experts-weigh-in\/"},"modified":"2022-08-01T22:21:58","modified_gmt":"2022-08-01T22:21:58","slug":"the-gap-between-crypto-and-the-sec-is-widening-legal-experts-weigh-in","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/the-gap-between-crypto-and-the-sec-is-widening-legal-experts-weigh-in\/","title":{"rendered":"The Gap Between Crypto and the SEC Is Widening. Legal Experts Weigh In"},"content":{"rendered":"
Web3 entities and the regulatory agencies that oversee them are at a low point in their relationship.<\/p>\n
For years, crypto exchanges and the Securities and Exchange Commission (SEC) have repeatedly disagreed about whether or not digital assets like cryptocurrencies and NFTs constitute securities. That gap only seems to be getting bigger, as 2022 has seen the friction surrounding this fundamental disagreement produce more and more heat.<\/p>\n
In March, the agency opened an investigation into various NFT marketplaces for potentially buying and selling securities. In July, it announced a similar investigation into popular crypto exchange Coinbase for adding a number of tokens to its platform, despite the agency\u2019s previous reviewal of Coinbase\u2019s listing processes and the company\u2019s repeated insistence that it\u2019s not in the securities business.<\/p>\n
Web3 companies are rightfully on edge, and their frustration is almost palpable. So divisive is the agency\u2019s enforcement-heavy stance on the securities question that even SEC Commissioner Hester Peirce recently shared her dissenting views on the matter, saying what the regulatory body is doing is \u201cjust not a healthy process.\u201d<\/p>\n