Several crypto groups have filed "amicus" briefs in support of Coinbase's request for the U.S. Securities and Exchange Commission (SEC) to provide clear rules clarifying crypto's place in securities regulation.

The groups collectively insist that the SEC is deliberately wrecking the young industry with an insistence that there's nothing distinct or special about crypto that warrants different treatment under securities laws. The Crypto Council for Innovation and the U.S. Chamber of Commerce have also criticized the SEC's aggressive stance towards those seeking to comply, arguing that it impairs investors' ability to differentiate the good organizations from the bad. The legal fight between the SEC and Coinbase may soon be amplified, as the agency has warned Coinbase it's going to be targeted with an enforcement action for violating securities laws.