Coinbase reported Monday that it has filed a lawsuit with the Securities and Exchange Commission (SEC).
In July 2022, Coinbase filed a petition with the SEC. The petition was directed at the SEC’s rules on the regulation of digitally-natively presented securities targeting digital assets such as cryptocurrencies.
Amid the controversy, Coinbase sued the US regulator SEC. The content of the case was that the SEC did not provide clarity on securities laws and that clarity was needed.
“SEC Determined to Deny Our Petition”
Coinbase commented, “From the SEC’s public statements and enforcement activities in the crypto industry, it looks like the SEC has already decided to reject our petition. But they haven’t told the public yet.” said.
In a blog post, Coinbase chief legal officer Paul Grewal requested the court to share the SEC’s decision in the lawsuit filed by Coinbase.
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