Coinbase has petitioned a U.S. federal court to compel the SEC to provide clarity regarding crypto regulations.
The exchange has asked the court to get the regulatory body to respond to its petition filed last year that requests formal rulemaking in the digital assets industry.a federal court to compel the U.S. Securities and Exchange Commission to respond to a petition it filed in July last year requesting formal rulemaking in the digital assets industry.
According to Coinbase, over 1,700 businesses and individuals have filed comments on Coinbase’s petition, reiterating the desire for regulatory clarity. At the very least, the SEC must specify how many ineffective and inapplicable standards will be applied to digital assets. However, the SEC has refused to do so.