Coinbase vs SEC lawsuit has seen a renewed conflict in a federal appeals court docket in Philadelphia, because the main U.S. crypto alternate challenges the regulator’s refusal to determine new guidelines for digital property.
The listening to marks the most recent chapter within the ongoing dispute between Coinbase and the SEC, with the alternate looking for to overturn the SEC’s denial of its 2022 rulemaking petition.
Coinbase Challenges SEC’s Denial of Rulemaking Petition
In a court docket listening to on Monday, Coinbase urged the SEC to determine clear laws for digital property, arguing that current securities legal guidelines are outdated and impractical for the crypto trade.
The alternate’s attraction facilities on the SEC’s refusal to behave on a 2022 petition requesting clarification on when a digital asset qualifies as a safety and calling for a market construction tailor-made to cryptocurrencies.
The SEC denied Coinbase’s petition in December 2023, asserting that present laws are ample and disagreeing with the concept new guidelines are obligatory. Coinbase contends that this stance has left the crypto market in regulatory uncertainty, making compliance troublesome for corporations working within the U.S.
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Kelvin Munene Murithi
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