Cryptocurrency exchange Coinbase asked the federal court
on Saturday to compel the Securities and Exchange Commission (SEC ) to respond
to a petition it filed last year. Coinbase petitioned the commission requesting clear rules for identifying which digital assets are classified as
securities.
In Saturday’s filing, Coinbase requested ‘mandamus’, which refers to an order issued by a
court to the government agency, in this case, compelling them to perform a
certain task. Specifically, the exchange is asking the court to compel the agency to set clear rules for digital assets.
“The Court should grant mandamus now because the
Commission has decided not to grant Coinbase’s rulemaking petition and is
actively harming the industry,” said Paul Grewal, Coinbase’s Chief Legal
Officer.
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
— paulgrewal.eth (@iampaulgrewal) June 17, 2023
The SEC sued
Coinbase for allegedly
operating its…
