Coinbase appeals denial of SEC rulemaking petition as promised

Coinbase deposit A call THE even day It is petition For A establishment of rules on crypto used as A security was refused.

Coinbase East continue It is efforts has ensure adequate legislation on cryptocurrency used as securities. After THE United States Securities And Exchange Commission denied Coinbase petition For establishment of rules on cryptocurrency on Dec. 15, THE crypto exchange appeals THE decision on THE even day.

Coinbase chief legal officer Paul Grewal promised immediate action as Soon as THE DRY denial became known. On Dec. 18, THE WE. Third District Court of Calls order THE SECOND has deposit THE save of It is decision by Jan. 24, 2024.

In It is call, Coinbase documented THE long process that was necessary has constrain THE SECOND has answer has It is petition. He called THE DRY denial of It is petition "arbitrary And capricious, A abuse of discretion, And opposite has law, In breach of THE Administrative Procedure Act." In added:

"THE Commissions refusal has to commit In the development of rules, even while he keep on going A campaign of regulation by enforcement against Coinbase And others that exceeds It is statutory authority, makes fun THE APP [Administrative Procedure Act] And fundamental principles of justice he embodies. »

THE DRY denial letter in default THE Coinbase petition For missing "text Or THE substance of any of them propose ruler" as required For petition. He went on has to disagree with THE petition claim that existing regulations were "impracticable" And State that THE agency has discretion on THE priority And Hourly of regulation. THE denial was critical by THE crypto community.

Related: Coinbase CEO said exit WE 'not even In THE kingdom of possibility RIGHT NOW' — Report...