Coinbase Challenges SEC in Court Over Crypto Regulations

The SEC and Coinbase have clashed in a federal appeals court in Philadelphia as Coinbase, the largest U.S. cryptocurrency exchange, pushes the regulator to establish clearer rules for digital assets. Last year, Coinbase sued the SEC, urging them to act on a 2022 petition that requested clarification on when a digital asset qualifies as a security. The petition also asked for a new market structure that aligns with the nature of cryptocurrencies.

In December 2023, the SEC rejected Coinbase's request, arguing that existing regulations are sufficient and disagreeing with the idea that they don’t work for the crypto industry. Now, Coinbase is asking the court to overturn the SEC's decision, claiming that the current regulatory framework makes it impossible for them to operate within U.S. laws.

If you would like to read more, click here for Reuter’s article.