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SEC Rejects Coinbase's Petition for New Regulatory Framework for Digital Asset Industry

The U.S. Securities and Exchange Commission (SEC) has rejected a petition by Coinbase requesting additional regulatory guidance for the digital asset industry. The SEC stated that Coinbase has not provided sufficient evidence to justify the creation of a new regulatory framework.

Coinbase had filed its original petition in July 2022, seeking guidance on digital assets. The SEC has not yet made a decision on the petition and is still considering it. The regulator also noted that it can consider new rules or amendments to existing regulations while still enforcing existing regulations.

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