US Chamber of Digital Commerce: US SEC's insider trading case against former Coinbase employees should be dismissed

In an amicus brief to the court, the U.S.-based Chamber of Digital Commerce argued that the SEC's insider trading case against former Coinbase employees should be dismissed because it represents U.S. The expansion of the SEC’s “regulation by law” campaign and attempts to characterize secondary market transactions of cryptocurrencies as securities transactions. The Chamber of Digital Commerce emphasized that "the US SEC's intrusion into the digital asset market" has never been authorized by Congress, and pointed out that in other Supreme Court cases, it has been ruled that regulators must first obtain Congressional authorization. Foresight News noted that the Chamber of Digital Commerce (Chamber of Digital Commerce) is a non-profit industry organization headquartered in Washington, DC, established in 2014 to promote the development and adoption of digital assets and blockchain technology.