Coinbase Accuses SEC of 'Intransigence' for Not Clarifying Crypto Securities Rules

Coinbase filed a new court filing accusing the SEC of "troubling intransigence" for not acting on its rulemaking petition from last July regarding which crypto assets are securities.

Coinbase says the SEC's latest response admitting a staff recommendation was made but no guidance issued amounts to an admission the SEC has no intention to act on the petition.

Coinbase argues the SEC has left crypto companies in an "unprecedented Catch-22" by not providing clarity on which assets are securities.

Coinbase wants the court to force the SEC to make public its recommendation on the rulemaking petition within 30 days.

Coinbase alleges the SEC has "resolved not to conduct the rulemaking" requested, so the court should compel the SEC to act.