TechFlow news, according to The Block, Coinbase stated in a 36-page closing argument submitted on Friday to the Third Circuit Court of Appeals that cryptocurrency companies are caught in a "Catch-22" situation.
Coinbase said the SEC demands companies comply with regulations while simultaneously launching "scorched-earth lawsuits" against those that fail to comply, and refuses to establish clear rules. Coinbase argued this pattern of behavior is deliberately designed to destroy an industry by demanding the impossible and then suing companies for failing to meet those unattainable expectations.
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