Investment company Paradigm, which supports projects in the crypto money and blockchain fields, takes a stance on the Coinbase exchange in the ongoing legal battle with the SEC.
Paradigm, the investment company started by Fred Ersham, co-founder of the US-based crypto trading platform Coinbase, presented a briefing to support the case the other day.
Making a statement on its official website, Paradigm stated that they found it "insincere" by targeting the latest statements of SEC chairman Gary Gensler.
"Gensler's statement to the press that crypto exchanges should just register is unrealistic. The SEC is doing everything it can to paralyze a growing industry."
Coinbase Previously Contacted the SEC
US-based crypto exchange Coinbase submitted an open letter of recommendation to the SEC for clear industry regulation in July 2022. Speaking to the press after the regulation call, Gensler denied the allegations of lack of clarity.
Paradigm officials emphasized in their statement that the SEC is putting pressure on the crypto industry through illegal means. Allegedly, the Securities and Exchange Commission is trying to hit the adoption of crypto with police measures without making the necessary regulations.
