Gemini Chief Legal Officer: Judge criticizes SEC's approach to cryptocurrency regulation

Odaily News Gemini Chief Legal Officer Tyler Meade wrote an article on X mentioning the Coinbase v. SEC case, in which the court criticized the agency for flatly rejecting Coinbase's request for clearer digital asset regulation.
Meade said Third Circuit Judge Stephanos Bibas called the SEC’s decision arbitrary and capricious, noting that the agency failed to provide comprehensive reasons to explain its rejection of Coinbase’s request.
Judge Bibas raised due process concerns in his concurring opinion, noting that the SEC’s enforcement strategy lacks transparency and fails to provide clear compliance guidance for cryptocurrency companies.
Judge Bibas wrote in the Third Circuit Court of Appeals decision: "The SEC repeatedly sues cryptocurrency companies for not complying with the law, but will not tell them how to comply. This cunning raises serious constitutional questions, and due process guarantees fair notice. The SEC has circumvented the rulemaking process by enforcing a de facto ban through enforcement. One may wonder whether an agency whose mission is to maintain fair, orderly, and efficient markets has the authority to ban an emerging technology." (Cryptonews)