Coinbase demands SEC respond to rulemaking petition
Coinbase is moving to gain an advantage in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The crypto exchange has respond ed to the commission’s request for an additional 120 days to reply to its rulemaking petition by filing a solid response in the U.S. Court of Appeals for the Third Circuit. Paul Grewal, Coinbase’s Chief Legal Officer, announced the filing, emphasizing that the crypto exchange cannot wait until next week’s deadline to address the SEC’s indecisiveness in response to the previous court order. According to Grewal, it is highly unusual for the government to ignore a direct inquiry from a federal court. We couldn't wait until our deadline next week to address the SEC's response to the June 6 order from the Third Circuit. It is unusual for the government to defy a direct question from a federal court. But the SEC’s evasive response goes further, as we set out today. 1/5 pic.twitter.com/ssULmUpzi2 ...