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News

Coinbase Facilitated To Challenge The SEC

June 21, 2023 - Around 2 mins mins to read

Key Points:

  • According to Coinbase Chief Legal Officer Paul Grewal, the Third Circuit has now declared that it would maintain jurisdiction over its appeal to the SEC’s inactivity.
  • The next report will be due in 120 days.
  • Coinbase has previously suggested that the SEC should be forced to reply to its petition by the court.
Coinbase Chief Legal Officer Paul Grewal announced that the Third Circuit has just ruled that it will retain jurisdiction over Coinbase’s challenge to the inaction of the US Securities and Exchange Commission (SEC).
Coinbase Facilitated To Challenge The SEC

The following report will be due in 120 days. The exchange has previously suggested that the SEC should be forced to reply to its petition by the court.

While the SEC’s action against Coinbase is still in its early stages, the future steps remain unclear. As of Tuesday, the exchange had not delisted any of the tokens described as securities by the SEC in action and had made no public statements regarding a possible settlement.

The exchange has chastised the SEC for avoiding the enforcement of its crypto regulation as part of a legal dispute between the two. The SEC filed a lawsuit against Coinbase on June 6, saying that the exchange violates multiple US securities laws, including operating as an unregistered exchange.

Coinbase Facilitated To Challenge The SEC

The SEC notified the court on June 13 that it had yet to decide on the course of action in the litigation and that there would be no particular date for a response to Coinbase’s request. The exchange criticized the SEC’s approach, claiming that the SEC has yet to deliberate on its rule-making procedures.

Coinbase filed a lawsuit in federal court in the United States on April 25, requesting the SEC to react to a petition it filed in July 2022 to adopt clear standards for digital assets. It wanted the SEC to offer regulatory advice to the crypto company by July 2022, prompting the exchange to sue the government in April when the agency failed to reply.

Coinbase Facilitated To Challenge The SEC

A letter from Coinbase’s defense team most recently reiterated earlier comments that the SEC has failed to give regulatory clarity while seeking compliance with nonexistent regulations.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Coinbase

Paul Grewal

SEC

Third Circuit

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Coinbase Facilitated To Challenge The SEC

Key Points:

  • According to Coinbase Chief Legal Officer Paul Grewal, the Third Circuit has now declared that it would maintain jurisdiction over its appeal to the SEC’s inactivity.
  • The next report will be due in 120 days.
  • Coinbase has previously suggested that the SEC should be forced to reply to its petition by the court.
Coinbase Chief Legal Officer Paul Grewal announced that the Third Circuit has just ruled that it will retain jurisdiction over Coinbase’s challenge to the inaction of the US Securities and Exchange Commission (SEC).
Coinbase Facilitated To Challenge The SEC

The following report will be due in 120 days. The exchange has previously suggested that the SEC should be forced to reply to its petition by the court.

While the SEC’s action against Coinbase is still in its early stages, the future steps remain unclear. As of Tuesday, the exchange had not delisted any of the tokens described as securities by the SEC in action and had made no public statements regarding a possible settlement.

The exchange has chastised the SEC for avoiding the enforcement of its crypto regulation as part of a legal dispute between the two. The SEC filed a lawsuit against Coinbase on June 6, saying that the exchange violates multiple US securities laws, including operating as an unregistered exchange.

Coinbase Facilitated To Challenge The SEC

The SEC notified the court on June 13 that it had yet to decide on the course of action in the litigation and that there would be no particular date for a response to Coinbase’s request. The exchange criticized the SEC’s approach, claiming that the SEC has yet to deliberate on its rule-making procedures.

Coinbase filed a lawsuit in federal court in the United States on April 25, requesting the SEC to react to a petition it filed in July 2022 to adopt clear standards for digital assets. It wanted the SEC to offer regulatory advice to the crypto company by July 2022, prompting the exchange to sue the government in April when the agency failed to reply.

Coinbase Facilitated To Challenge The SEC

A letter from Coinbase’s defense team most recently reiterated earlier comments that the SEC has failed to give regulatory clarity while seeking compliance with nonexistent regulations.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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