Senator Lummis Supports Coinbase Against SEC

Senator Lummis Supports Coinbase Against SEC



Senator Cynthia Lummis from Wyoming backed Coinbase's plea to drop the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC). By submitting an amicus brief, Lummis, a member of the Republican Party, reaffirmed her stance in favor of the cryptocurrency sector. Coinbase seeks a court order to quash the SEC's case, accusing them of functioning without necessary registrations. They counter that since their platform's transactions aren't securities-based, the SEC lacks jurisdiction.



The 68-year-old Lummis contends that the SEC's crypto regulatory actions infringe upon the U.S. Constitution's separation of powers principle. She believes the SEC is wrongfully stepping into Congress's shoes by attempting to create laws. She also charged the SEC with sidestepping existing regulatory pathways, thereby taking on roles


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