Coinbase is looking to force the SEC to respond to a petition it filed last year with the regulator that asked it to propose and adopt rules for the crypto industry.
Now that more than nine months have passed with no response, the exchange is pushing hard to get an answer:
“It seems like the SEC has already made up its mind to deny our petition. But they haven’t told the public yet. So the action Coinbase filed today simply asks the court to ask the SEC to share its decision.” "It’s important for the SEC and any other agency petitioned for rulemaking to respond to the petition once the agency has made up its mind, especially if the answer is no," Grewal explained.Yet Coinbase and other crypto companies are facing potential regulatory enforcement actions from the SEC, even though we have not been told how the SEC believes the law applies to our business.
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