.bgarlinghouse has called out SECGov for 'hypocrisy' over inconsistent public communication
This comes after Paul Grewal, Coinbase's chief legal officer, shared an extensive Twitter thread outlining the SEC's response to Coinbase's petition for a definitive stance on cryptocurrency regulation.
Garlinghouse's tweet reflects a growing frustration among crypto industry leaders, who claim the SEC's lack of clarity is hampering the industry's growth. Grewal's thread revealed that the SEC has admitted to using enforcement actions in lieu of established rules for the foreseeable future. The regulator also stated that public remarks by Chair Gary Gensler should not be considered as formal guidance or policy statements. "Ah the hypocrisy to be an unelected bureaucrat – where you can prognosticate on your bully pulpit at all times and then say no one should rely on your statements as guidance," Garlinghouse tweeted in response.
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