Buy iota on coinbase9/16/2023 ![]() ![]() This comes at a time when the entire crypto ecosystem is in the thick of a heated war with the US SEC. He also accused the American regulator of increasing enforcement and issuing warnings to crypto exchanges without providing clear guidance.ġ) they repeat the fallacy that they haven't made any decision on new crypto rules 2) they refuse to commit to any deadline despite the Court's explicit order 3) they instead "anticipate" making a "recommendation" in 120 days and most importantly… 2/5 In response to the letter, Coinbase chief legal officer Paul Grewal criticized the SEC’s response, saying that it ignored the Court’s explicit order and refused to commit to any deadline. ![]() The Commission has also not decided what action to take on that petition in whole or in part.” “There is no merit to Coinbase’s extraordinary request for a writ of mandamus to compel the Commission to act on Coinbase’s wide-ranging rulemaking petition within seven days. The agency stated it needs an additional 120 days to reply to the exchange’s request as well as provide further clarity on the laws governing digital assets. Court of Appeals for the Third Circuit, the SEC has asked for more time to reply to Coinbase’s request, specifying that it has not decided what action to take on the petition and that Coinbase’s lawsuit has no merit. In a June 13 letter submitted to the U.S. In its order, the court had recommended the American watchdog to clarify whether Coinbase’s rulemaking petition has been denied, and if not, then how much time would the SEC require to decide whether to deny or grant that petition. Last week, the United States Court of Appeals for the Third Circuit had ordered the regulatory watchdog to respond to Coinbase’s pending petition for rulemaking within seven days, which was yesterday. In response, the cryptocurrency exchange filed a lawsuit in April, asking the court to order the SEC to respond to its petition for rulemaking, which contained 50 specific questions about how the SEC determines whether a token is a security or not. The debacle with the American regulatory agency started after the SEC issued a Wells notice to Coinbase, warning the company that it identified potential violations of U.S. The United States Securities and Exchange Commission (SEC) has asked for four more months to reply to Coinbase’s request for more clarity on the regulation of digital assets, claiming that Coinbase’s lawsuit has “no merit.” SEC Says Coinbase Petition Has No Merit. ![]()
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