Coinbase files court action to compel SEC’s response to rulemaking petition

Coinbase filed a constrictive action successful a United States national tribunal that seeks to compel the Securities and Exchange Commission (SEC) to supply a "yes oregon no" effect to a July 2022 petition.

The petition requested the SEC suggest and follow clearer regulatory guidelines for the cryptocurrency manufacture successful the U.S. 

In the exchange's July 2022 petition, it asked the fiscal regulator to reply a full of 50 circumstantial questions concerning the regulatory attraction of definite integer assets.

According to an accompanying April 24 blog post penned by Coinbase Chief Legal Officer Paul Grewal the Administrative Procedure Act requires the SEC to respond to the exchange's rulemaking petition “within a tenable time.”

Now that much than 9 months person passed with nary response, the speech is pushing hard to get an answer:

"It seems similar the SEC has already made up its caput to contradict our petition. But they haven’t told the nationalist yet. So the enactment Coinbase filed contiguous simply asks the tribunal to inquire the SEC to stock its decision."

"It’s important for the SEC and immoderate different bureau petitioned for rulemaking to respond to the petition erstwhile the bureau has made up its mind, particularly if the reply is no," Grewal added.

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.