Coinbase's fight for regulatory clarity takes a turn as SEC faces complaint response.
According to a May 4 announcement from Coinbase chief legal officer Paul Grewal, the United States Court of Appeals for the Third Circuit responded to the complaint against the U.S. Securities and Exchange Commission regarding the need for clear rules for trading digital assets. This marks a development in the legal battle for regulatory clarity.to Grewal, the court’s response to their complaint against the SEC was a text-only order.
The Third Circuit just issued a text-only order directing the SEC to file a response to our mandamus petition within 10 days . Here’s the text of the order:Grewal stated that the court had granted Coinbase the right to file a reply to the SEC’s response within seven days of the filing. He also expressed appreciation for the court’s thorough examination of the case.
Coinbase — the largest U.S.-based cryptocurrency exchange — filed a lawsuit in April requesting that the court
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