On April 24, Coinbase filed legal action against the U.S. Securities and Exchange Commission (SEC) to compel the regulator to respond to its earlier rulemaking request. Coinbase suggested that the SEC has likely decided to reject its request but has not made any public statement on the issue. The filing is indirectly related to a Wells notice that Coinbase received from the SEC in March, indicating that the SEC could soon file charges against Coinbase. Coinbase plans to fight the SEC in court if it decides to advance. Coinbase CEO Brian Armstrong and his staff met with the SEC and Members of Congress to discuss regulatory issues, including SEC overreach. Coinbase is one of several crypto firms recently targeted by the SEC, and House Republicans have criticized SEC chair Gary Gensler for the regulator's harsh treatment of the cryptocurrency industry. (cryptoslate)
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Coinbase Files Action Against SEC Seeking Clarity on Crypto Regulations
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Coinbase Chief Legal Officer: US SEC blocks Coinbase’s request to disclose Gary Gensler’s communication documents
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