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International Business Times
International Business Times
Business
Marvie Basilan

SEC vs Coinbase: Court Questions Regulator's Limited Reasoning In Denial Of Rulemaking Request

Coinbase SEC Crypto Commission United States X Eugene Scalia the Third Circuit
Coinbase has been calling for an "update" of the U.S. financial system to include clear regulations for the crypto sector. (Credit: Coinbase Twitter)

KEY POINTS

  • Coinbase petitioned for the SEC to engage in new rulemaking targeted at the crypto industry
  • The SEC refused the request in December, months after it filed a lawsuit against Coinbase
  • Two judges raised concerns Monday about the SEC's seemingly 'vacuous' reasoning in its denial of crypto rulemaking

The U.S. Securities and Exchange Commission (SEC) has been on a years-long crackdown of cryptocurrency, and among the biggest cases followed by the digital assets community is the lawsuit against crypto exchange giant Coinbase in mid-2023.

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