US Appeals Court Questions Sufficiency of Reasons for SEC's Rejection of Coinbase Crypto Regulatory Petition
The U.S. Court of Appeals for the Third Circuit reviewed the U.S. Securities and Exchange Commission's (SEC) decision to deny Coinbase's cryptocurrency regulatory rulemaking petition, questioning its reasoning as being too limited, according to Cointelegraph.2022 Coinbase had asked the SEC in July of 2012 to propose and adopt a regulatory rule for “securities offered and traded through digitally originated methods” In July 2022, Coinbase had asked the SEC to propose and adopt rules for “securities offered and traded through digitally derived methods,” including clarifying which crypto-assets are securities.
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