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Twitter News Roundup - XRPL's new AMM network + Patrick McHenry strikes again


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Patrick McHenry WE THANK YOU.

Coinbase is seeking a Writ of Mandamus which is a Court order compelling the SEC to do its job and announce a decision on Coinbase's request for rule-making. This action does not necessarily affect the SEC's timing for suing Coinbase as it has threatened to do. I expect major industry players to pile in with amicus briefs supporting Coinbase's position. We might also see the House Financial Services Committee, or individual members, come in with briefs in support of Coinbase.

The SEC Commissioners will have to approve any response to Coinbase's action. There's a tiny chance the SEC will blink and agree to engage in rule-making, if just one Commissioner withdraws their support for Gary Gensler's "regulation-by-enforcement" strategy, he's done. While Coinbase's action does not directly affect pending SEC cases against Ripple
/ $XRP, Bittrex and others, It does a great job of shining a spotlight on the SEC's contradictory positions about of its authority to regulate digital assets.

Other judges will take note.

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