Matthew Sigel, VanEck’s Head of Digital Asset Research has projected the ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and Coinbase to come to an end when the main stakeholders leave for private practice. The lawsuit slammed the country’s largest exchange by volume and added to the list of SEC actions against the crypto industry. 

VanEck Exec Projects End to Coinbase v SEC Case 

VanEck Executive Matthew Sigel predicted that a settlement will likely occur in the SEC v Coinbase lawsuit when stakeholders leave their government role. In a recent post on X (formerly Twitter), Sigel wrote “Prediction: SEC vs. Coinbase will settle once most of the central characters have left & are working in private practice. One step closer today.”

This came after David Hirsh, a former SEC enforcement chief, left for private practice at McGuireWoods. Hirsh was a notable figure in the Commission’s crypto and cyber units leading the team and playing a huge role in enforcing registration obligations in the crypto space. Meanwhile, Robert Muckenfuss, McGuireWoods Head of Financial Services and Enforcement explained that Hirsh will give them an edge. 

“Cybersecurity and crypto are rapidly evolving areas of the law and Dave’s unique background and extensive experience in securities enforcement will help our clients stay ahead of the curve.”

Sigel’s comments follow wider criticism of the financial regulators’ approach to crypto regulation in the United States. Both parties continue to assert their claims as the regulatory landscape thickens.

Market Seeks Rule Clarity 

The ongoing legal battle which started last year has led to many developments including stirring up a renewed push for cryptocurrency regulations. As a result, Coinbase and other industry players have tried to get clear rules from authorities.

A major argument lies in migrating capital and talent to regions with pro-market regulations. While stressing to vigorously defend itself, the call for legislation has seen an improved acceptance in Congress. This year, several pro-crypto bills made significant progress in Congress as lawmakers slowly changed their stance on the market. Furthermore, crypto policies shape campaigns ahead of the elections.

The post Coinbase Vs. SEC: VanEck Exec Weighs In On Lawsuit Settlement appeared first on CoinGape.

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Filed under: News - @ August 19, 2024 8:18 pm