Coinbase Says SEC Is Costing the US Millions of Jobs and Pushing Opportunities Offshore

Crypto exchange Coinbase says that the U.S. Securities and Exchange Commission’s (SEC) enforcement-only approach is negatively impacting America.

In a new blog post, Coinbase says that “while the majority of the world’s economic powers are embracing a technology that can increase economic opportunity, the SEC’s regulation by enforcement-only approach is costing the US millions of jobs and pushing opportunity offshore.”

According to Coinbase, the SEC is pursuing an enforcement-only approach despite its chair Gary Gensler testifying to the U.S. House Committee on Financial Services in May of 2021 that domestic crypto exchanges “do not have a regulatory framework either at the SEC or our sister agency, the U.S. Commodity Futures Trading Commission (CFTC).”

Says Coinbase,

“The enforcement-only approach continues despite 9 in 10 Americans believing

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