The American cryptocurrency exchange Coinbase faced off with the U.S. Securities and Exchange Commission (SEC) in a federal appeals court on Monday (Sep. 23) over crypto regulations. This back-and-forth started when Coinbase filed a lawsuit against the SEC in 2023. The company asked them to act on its 2022 petition which requested the Commission to “propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods, including potential rules to identify which digital assets are securities.” The petition was then denied by the SEC in December of 2023, with the crypto exchange asking, on Monday, a federal appeals court to overturn that denial. Three-judge appeals court heard arguments from Coinbase and US SEC According to Reuters, Eugene Scalia who is a lawyer for Coinbase, told the three-judge appeals court that the SEC had been arbitrary and capricious in not giving Coinbase more answers on how to register with the agency and comply with U.S.
Coinbase And Us Sec Clash In Appeals Court About Crypto Rule Making
Sophie Atkinson, ReadWriteWeb
Tue, 09/24/2024 - 6:54am
Topics: u.s securities exchange commission sec monday sep december three-judge eugene scalia if coinbase ezekiel hill chief legal officer coinbase paul grewal today third circuit secgov s iampaulgrewal september featured image midjourney readwrite american sec u.s commission x coinbase us us sec reuters grewal appeals court about crypto rule court about crypto rule making petition denial lawyer arbitrary arguments regulations federal rules rulemaking regulation comply agency enforcement heard framework
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