Posted 12/17/2023, 5:55:08 PM
Coinbase Sues SEC Over Rejected Crypto Regulation Proposal
- Coinbase files legal action challenging SEC's denial of its rulemaking petition for crypto regulation
- SEC rejected Coinbase's proposal for new crypto rules, saying existing securities laws apply
- Coinbase seeks court review, calls SEC's denial "arbitrary and capricious"
- Coinbase petition argues SEC exceeded authority with "regulation by enforcement"
- Coinbase requests court vacate SEC decision and direct agency to start crypto rulemaking