Coinbase urges SEC to retract DeFi rule, calls it ‘fundamentally flawed’

Coinbase has submitted a strongly worded comment letter to the SEC, urging the agency to withdraw its proposal to expand the definition of "exchange" to include decentralized exchanges (DEXs).The crypto exchange argues that the SEC's proposal is fundamentally flawed and lacks adequate cost-benefit analysis. Coinbase Chief Legal Officer Paul Grewal emphasized that the rule could stifle... source: https://cryptobriefing.com/coinbase-sec-letter-defi-rule/