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that the sec had notified it that the sec had notified it that these charges may be coming. in response, coyne bay said that the rules were not clear. testifying on capitol hill on tuesday, the chief legal officer said it tried to get new rules in place for crypto platforms like there's but got no response from the sec. since that time we have had over 30 engagements with the sec to try and work towards a sensible framework for regulation that would allow registration of platforms is either a broker—dealer or a national security exchange. we received no response after our presentation as part of those discussions. on one hand, coinbase basically says we want to abide by your rules but the ones is written do not work for these new financial instruments like crypto currency. on the other hand, the regulator says that rules are rules and you are running afoul of them. it