The Securities and Exchange Commission (SEC) Wells announcement coin base COIN has made waves in the cryptocurrency industry, with pundits raising concerns about the regulator’s approach to regulating the market.

The SEC claims multiple violations and highlighted the potential implications of the ongoing debate over the classification of cryptocurrencies as securities and stressed Coinbase’s history in complying with regulatory requirements.

The experts called for a cooperative attitude between them coin base and regulators pushing for the creation of a clear legal framework for cryptocurrencies in the United States to benefit the entire industry.

AMLBot co-founder Slava Demchuk expressed concern about the SEC’s approach to regulating the cryptocurrency Market trying to fit cryptocurrencies into existing laws designed for traditional financial institutions.

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“I expect the entire crypto market will support Coinbase in its fight against the SEC. It seems like the SEC’s recent active involvement against crypto market participants aims to destroy the crypto market in the US,” he said.

Nikolai DenisenkoCo-founder and CTO of the neo-digital banking app Brighthighlighted the possible implications of the SEC’s Wells filing for the ongoing debate over the classification of cryptocurrencies as securities and Coinbase’s defense strategy.

“If Coinbase successfully defends itself, it could lead to more regulatory clarity for the crypto industry, which will benefit all stakeholders. Coinbase has a strong interest in securing its position, thereby helping create transparent regulatory guidelines going forward,” he said.

Intergovernmental Blockchain Advisor Andy Lian called for a cooperative stance between Coinbase and regulators in creating a clear legal framework for cryptocurrencies in the US

“Listing on Coinbase is so…