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Coinbase Urges US Court to Compel SEC Response to Rulemaking Petition

June 17 (Cointime) - Coinbase has urged the US Court of Appeals for the Third Circuit to compel the SEC to respond quickly to its rulemaking petition. The SEC had requested an additional 120 days to respond to the petition, but Coinbase's chief legal officer argues that the government's disregard of a direct inquiry in federal court is unusual.

The lack of clarity on crypto regulation in the US is impacting the industry and investors, and the court should order the SEC to report its action within 60 days. Meanwhile, the US House Financial Services Committee aims to bring clarity over crypto regulation in the coming weeks with a draft stablecoin bill.

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