SEC Tells Court Coinbase Can't Force It To Write Up New Crypto Rules

The SEC refuses to be forced to create new, clearer rules for the crypto sector. (Credit: AFP)

KEY POINTS

• The regulator said Coinbase's rulemaking petition was unjustifiable
• Coinbase has said new rules were necessary for a new financial sector
• The SEC sued Coinbase in 2023, saying the crypto exchange violated securities laws

The U.S. Securities and Exchange Commission (SEC) told the court in a recent filing that cryptocurrency exchange giant Coinbase can't force it to produce new digital assets rules "from the ground up," saying its current regulations around the emerging sector were enough to keep the industry in check.