The regulatory climate in the United States crypto ecosystem is heating up, and with the Wells Notice sent to Coinbase exchange by the Securities and Exchange Commission (SEC) back in March, many are expecting legal action to follow. Should this happen, a crypto-friendly legal analyst believes the trading platform will come out triumphant against the market regulator. Taking to his Twitter account, MetaLawMan, as he is popularly called, highlighted how SEC Chairman Gary Gensler revealed in his May 6, 2021, testimony to Congress how the commission is not empowered to regulate crypto trading platforms.