Polygon Crypto News: Ryan Wyatt, president at Polygon Labs, came out in support of Coinbase in the wake of the U.S. Securities and Exchange Commission’s (SEC) regulatory action on the crypto exchange. The SEC had on Wednesday issued a Wells Notice to the exchange over doubts about the listed digital assets, their staking services, among other things. The exchange said the SEC did not provide enough information about the charges. Meanwhile, the crypto market is undeterred with the threat of enforcement actions.
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The SEC had on Wednesday also sued Tron founder Justin Sun over charges of selling unregistered cryptocurrencies. The agency charged Sun and three of his related companies with multiple charges. The SEC also leveled charges of engaging in market manipulation and conducting airdrops involving similar securities.
Ryan Wyatt Supports Coinbase
The Polygon Labs president said countries with clear policies around crypto and web 3.0 will foster innovation, referring to the United States’ dominance in technological innovation until recently. He said recent action by US regulators on companies like Coinbase eroded the trust in the country. Wyatt raised doubts on whether the crypto industry can even survive in America even as global adoption happens.
“The world is moving forward with blockchain technology faster than ever before, and will do it with or without the United States.”
The Polygon Labs executive said the industry needs to stand behind Coinbase and other players in the United States.
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