Bitcoin
Bitcoin (BTC)
$94,675.00 0.23548
Bitcoin price
Ethereum
Ethereum (ETH)
$1,770.89 -2.38697
Ethereum price
BNB
BNB (BNB)
$598.92 0.01913
BNB price
Solana
Solana (SOL)
$143.72 -1.32159
Solana price
XRP
XRP (XRP)
$2.12 -1.00784
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 -1.91546
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000078 -1.84114
Pepe price
Bonk
Bonk (BONK)
$0.0000163 -3.8769
Bonk price
dogwifhat
dogwifhat (WIF)
$0.538971 -1.02955
dogwifhat price
Popcat
Popcat (POPCAT)
$0.387624 3.23273
Popcat price
Bitcoin
Bitcoin (BTC)
$94,675.00 0.23548
Bitcoin price
Ethereum
Ethereum (ETH)
$1,770.89 -2.38697
Ethereum price
BNB
BNB (BNB)
$598.92 0.01913
BNB price
Solana
Solana (SOL)
$143.72 -1.32159
Solana price
XRP
XRP (XRP)
$2.12 -1.00784
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 -1.91546
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000078 -1.84114
Pepe price
Bonk
Bonk (BONK)
$0.0000163 -3.8769
Bonk price
dogwifhat
dogwifhat (WIF)
$0.538971 -1.02955
dogwifhat price
Popcat
Popcat (POPCAT)
$0.387624 3.23273
Popcat price
Bitcoin
Bitcoin (BTC)
$94,675.00 0.23548
Bitcoin price
Ethereum
Ethereum (ETH)
$1,770.89 -2.38697
Ethereum price
BNB
BNB (BNB)
$598.92 0.01913
BNB price
Solana
Solana (SOL)
$143.72 -1.32159
Solana price
XRP
XRP (XRP)
$2.12 -1.00784
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 -1.91546
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000078 -1.84114
Pepe price
Bonk
Bonk (BONK)
$0.0000163 -3.8769
Bonk price
dogwifhat
dogwifhat (WIF)
$0.538971 -1.02955
dogwifhat price
Popcat
Popcat (POPCAT)
$0.387624 3.23273
Popcat price
Bitcoin
Bitcoin (BTC)
$94,675.00 0.23548
Bitcoin price
Ethereum
Ethereum (ETH)
$1,770.89 -2.38697
Ethereum price
BNB
BNB (BNB)
$598.92 0.01913
BNB price
Solana
Solana (SOL)
$143.72 -1.32159
Solana price
XRP
XRP (XRP)
$2.12 -1.00784
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 -1.91546
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000078 -1.84114
Pepe price
Bonk
Bonk (BONK)
$0.0000163 -3.8769
Bonk price
dogwifhat
dogwifhat (WIF)
$0.538971 -1.02955
dogwifhat price
Popcat
Popcat (POPCAT)
$0.387624 3.23273
Popcat price

Coinbase challenges SEC’s rejection of digital asset rulemaking petition

Dorian Batycka
Edited by
News
Coinbase challenges SEC’s rejection of digital asset rulemaking petition

Coinbase’s chief legal officer, Paul Grewal, has criticized the U.S. Securities and Exchange Commission (SEC) for its minimalistic legal response regarding the exchange’s request for clearer cryptocurrency regulations.

In a Jan. 30 X post, Grewal highlighted the inadequacy of the SEC’s documentation, which formed the basis of its decision to reject Coinbase’s petition for digital asset rulemaking.

The saga began in June 2022 when Coinbase submitted a petition urging the SEC to establish more transparent rules for the burgeoning crypto industry. However, the SEC dismissed this request in December 2023, maintaining that the current securities regulations for cryptocurrencies were adequate.

The heart of the contention lies in the SEC’s latest filing, dated Jan. 24, 2024. The document, a compilation of records leading up to the December decision, primarily consists of external comments and records of meetings between the SEC and Coinbase. Notably, these documents do not articulate the SEC’s reasoning behind its decision, presenting a lack of comprehensive explanation from the commission in its recent filing.

The only substantial insights into the SEC’s position are gleaned from its initial acknowledgment of Coinbase’s petition and the final letter of rejection, both included in the January filing.

Following the SEC’s December rejection of Coinbase’s rulemaking petition, Coinbase has subsequently requested a court review of this decision.

Grewal outlined the timeline for the forthcoming legal proceedings in his post, noting key dates: Coinbase’s brief is due on Mar. 11, the SEC’s response by Apr. 10, followed by Coinbase’s rejoinder on May 1. He added that Coinbase “appreciate[s] the Third Circuit’s consideration.”

This legal tussle is set against the backdrop of the SEC’s June 2023 charges against Coinbase, accusing the exchange of trading 13 unregistered securities. While these cases are distinct, Coinbase has referenced them in conjunction, pointing out its proactive efforts in seeking clarity through its rulemaking petition, only to be met with legal threats.

The resolution of the rulemaking petition remains uncertain, but its outcome could significantly impact future SEC actions against Coinbase and other crypto firms, potentially shaping the regulatory space for digital assets.