Coinbase can't force the SEC to write new rules, appeals court rules
Powered by @unfolded- The U.S. Third Circuit Court of Appeals has ruled against Coinbase's bid to force the SEC to develop a new regulatory system for cryptocurrency.
- The court agreed with the SEC's ruling that existing regulations are sufficient and not "unworkable" as Coinbase claims.
- The court stated that the SEC was right not to dedicate its time to crypto asset rulemaking and that Coinbase was wrong to try to force them to write regulations.
- Coinbase's top lawyer responded to the decision, expressing confidence that the court will see it differently.