The US Chamber of Commerce has supported Coinbase's request for the US Securities and Exchange Commission (SEC) to establish rules for cryptocurrency. The Chamber highlighted that there is no clarity on which digital assets are securities under federal law, and the SEC has not resolved this issue despite being the primary regulator of digital assets. The Chamber, which represents over 300,000 members, argued that the SEC's delay in rulemaking has caused confusion and instability in the crypto industry.

Coinbase has also asked a federal appellate court to compel the SEC to respond to its rulemaking petition, as the agency has not been prompt or reasonable in its response. Additionally, Coinbase has been fighting the SEC after being served a Wells notice in March, with the exchange arguing that the agency has not complied with the law.