COINBASE CALLS FOR SEC TO RETHINK RULE ON DECENTRALIZED EXCHANGES, CALLING IT 'IRRATIONAL'

Summary from the TLDR Crypto newsletter

Coinbase has urged the SEC to withdraw its rule requiring decentralized exchanges to register like traditional ones, arguing that it is impractical and based on flawed assumptions. Chief Legal Officer Paul Grewal says that DEXs cannot meet the same compliance standards as centralized exchanges, citing a recent Supreme Court ruling to challenge the SEC's broad interpretation of the law.