Crypto investment firm Paradigm, led by Coinbase co-founder Fred Ehrsam, has filed an amicus brief in support of Coinbase's legal action against the United States Securities and Exchange Commission (SEC). The filing argues that the SEC's lack of clear regulatory guidelines for digital assets and trading platforms has led to regulatory uncertainty and could result in a de facto ban on such platforms. Many in the crypto industry have criticized SEC Chair Gary Gensler's approach to registering firms, claiming it does not reflect reality. The legal battle between Coinbase and the SEC comes amid concerns from US lawmakers about the lack of regulatory clarity in the country.