In the Crypto space, a lot is going on these days because of the ongoing issues specifically in the United States and we know the region behind all this is just the Security and Exchange Commission. Its called SEC in short and it seems like the sec has decided to create multiple issues in the market and create a FUD-like situation. I believe that compliance and regulations are good for the investor's safety but the way SEC has been driving it is not fair in the first place and they also need to understand that whatever wrong they do will negatively impact people. how will they justify that they are doing right by making people lose a lot of money in the market? Even now things are not in the good sentiment in the Crypto market and looking at the current situation it seems difficult because exchanges and SAC both are fighting with each other to prove their side.


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[src](https://images.app.goo.gl/HmFzJN8iLk2cXHq67)

#### SEC needs time to respond to Coinbase


Coinbase exchange was attacked a few months back by the Security and Exchange Commission but they asked for clarification about Crypto. Earlier SEC was not bothered to talk about it but now finally they have replied on that saying they need more time which sounds good because at least they acknowledged the fact that they are working on it. As per them, it will need another 120 days for them to draught the response which is because at least they are now coming back and hopefully they should be able to get it done in the next 4 months. It feels like they asked for more time than needed but its fine as long as they have the intention to provide clarity. 




> In a June 13 letter submitted to the U.S. Court of Appeals for the Third Circuit, the Securities and Exchange Commission said it needs an additional 120 days to reply to Coinbase’s request that it adopt new rules and provide further clarity on the laws governing crypto. The letter was in response to the court’s June 6 order to the SEC, which asked the regulator to address if it’s denying the rulemaking or if it needs more time to respond.


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#### US judge rejected SEC's request to freeze assets


SEC asked the judge to approve for asset freeze in the Binance exchange it was rejected. I don't understand why they are asking for the fees because they know it is not their money and post-freeze it will affect all the investors who are holding funds in the Binance exchange. this is not a fair practice where SEC is trying to create another problem by putting the assets on freeze and it is a good stand taken by the US code that they rejected the application. if it is not your money then you should not be bothered about it but unfortunately, as SEC is trying to do the same without even realizing what they are doing and how it will affect thousands of people holding their hard-earned money in the exchange.




While the current situation is still not looking normal in the country and this should not be followed by any other country in this situation else the market situation might be even worse if it happens. The US seems to be anti-crypto in the current scenario whereas this was the country that was encouraging the industry and following that many other countries have adopted the cryptocurrency model. Even if it is not good in India but at least the country is not trying to create problems for the exchanges and investors' funds are not at risk. If this kind of situation continues there may be some other countries also follow the footprints however I got to know that Hong Kong is doing well in the Crypto space this time. 


![image.png](https://files.peakd.com/file/peakd-hive/alokkumar121/23yJA9ndKywV9HUTNYLq8E8hfLbaypmgSKfaXxh22ayfYF1PsWpjsXJCFxk2rUC3Uj9iD.png)


Lawmakers in Hong Kong have invited the Coinbase Exchange to apply for an operating license in their country and this is not the only exchange as they have also invited many other crypto exchanges to operate in Hong Kong. this is going to be good for the users in crypto as well as for the exchanges because now they can focus more on the business in such countries where things are not going to be problematic for them. US exchange Gemini is also planning to set up its hub in India while keeping the same focus on the Singapore market amid this SEC issue in the crypto segment. What do you think about the current SEC and US exchanges situation?



***Thank you.***


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