The Coinbase NFT campaign \u2018Stand Strong With Crypto\u2019 puts a spotlight on SEC (Securities and Exchange Commission)\u2019s crypto regulatory policies like no other. The drop comes shortly after the giant crypto exchange filed a lawsuit against SEC to regain some of the rights and freedom they allegedly deserve. With nearly 12,000 campaign NFTs already minted, one thing is certain: the web3 community has all eyes on SEC.<\/p>\n This week, the main US-based crypto exchange Coinbase started a legal battle against SEC \u2013 the leading financial regulators. In short, the platform asks SEC to answer a petition issued last year asking for crypto industry regulations via SEC\u2019s current methods.<\/p>\n \u201cThe SEC is required by law to respond to petitions \u2018within a reasonable time,\u2019 but they have not yet responded to our petition from last July, which is why we filed our action in court today,\u201d<\/em> said Coinbase\u2019s Chief Legal Officer Paul Grewal. \u201cIt\u2019s obvious that there\u2019s a lack of clarity among our regulators regarding crypto, as even the chair of the SEC has declined to say which crypto assets are securities.\u201d<\/em><\/p>\n Brave as it may be, this legal action may come at a cost for Coinbase and crypto platforms in general. That\u2019s exactly how the \u2018Stand With Crypto\u2019 NFT campaign was born.<\/p>\n \u2018Stand With Crypto\u2019 is an NFT campaign by Coinbase to empower the crypto community for a favorable crypto mandate. In terms of design, the digital asset is a blue shield that stands for courage and protection of the crypto market.<\/p>\n Accordingly, Coinbase partnered with ZORA for the drop. In essence, ZORA is an Ethereum marketplace for Web3 collectors best known for its Tumblr-like collectibles feed.<\/p>\n Together with ZORA, Coinbase will offer all of the NFT proceedings from their campaign to vetted organizations.<\/p>\n![\"image](\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/04\/coinbase-sec-crypto.jpg.webp)
\n<\/picture>\n<\/noscript>Why Did Coinbase File a Lawsuit Against SEC?<\/span><\/h2>\n
Why is Coinbase\u2019s \u2018Stand With Crypto\u2019 NFT Campaign Important?<\/span><\/h2>\n
![\"image](\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/04\/coinbase-nft-e1682544602635.png\")