The U.S. Chamber of Commerce called out the Securities and Exchange Commission (SEC) on Thursday, slamming the financial watchdog for its regulatory approach toward the digital asset industry. From a report: It filed an amicus brief in support of Coinbase, which took the SEC to court last month. The exchange wants a court to force the SEC to respond to its so-called “petition for rulemaking” filed last July. The petition asks the SEC to propose and adopt rules for digital assets and answer questions related to regulation. Now Coinbase has one of the largest business organizations in the world standing behind it.

The U.S. Chamber of Commerce represents the interests of more than 3 million businesses and organizations throughout the country, from small businesses to global corporations, according to its website. Amicus briefs are legal documents containing information or advice related to a specific court case and are provided by third parties. And the U.S. Chamber of Commerce accused the SEC of intentionally sewing uncertainty to keep the digital assets industry on ice. “The SEC has deliberately muddied the waters by claiming sweeping authority over digital assets while deploying a haphazard, enforcement-based approach,” it wrote. “This regulatory chaos is by design, not happenstance.” Further reading: Coinbase CEO Says SEC is On ‘Lone Crusade’

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Source: Slashdot – US Chamber of Commerce Slams SEC, Backs Coinbase in Legal Fight