Coinbase Sues SEC, Demanding Crypto Asset Clarity Amid Ongoing Legal Battles

Coinbase filed a lawsuit against the SEC for denying its petition to provide regulatory clarity on crypto assets
Coinbase argues the SEC is arbitrarily claiming authority over cryptos without providing clear rules
The lawsuit aims to force the SEC to explain why it won't develop crypto-specific regulations
This is separate from Coinbase's court fight with the SEC over whether it was running an unregistered securities exchange
The case puts pressure on the SEC to define what makes a crypto asset a security amid ongoing legal battles