‘Can’t get their act together’: Crypto firms slam SEC, Washington for lack of clarity on rules

On Wednesday, the SEC sent exchange Coinbase a Wells notice, warning the company that it had identified potential violations of U.S. securities law. The SEC also unveiled fraud and unregistered securities charges against crypto founder Justin Sun and celebrities that endorsed the digital coins he was pushing.

The SEC is currently in legal disputes with a number of other companies including Ripple, Genesis and Gemini.

“It feels uncollaborative,” a senior crypto executive at the Paris Blockchain Week event told CNBC, wishing to remain anonymous due to the sensitive nature of the matter. “It’s very frustrating for players that have been doing right the whole time.”

Source: ‘Can’t get their act together’: Crypto firms slam SEC, Washington for lack of clarity on rules