US Crypto Exchange Coinbase Files a New Complaint Against the SEC

Coinbase filed a lawsuit on April 25, 2023 to seek an answer from the SEC to their filing from July 2022, which sought to clarify the regulation of the crypto industry.

Despite Coinbase’s demand, the SEC intends to not participate in the creation of a regulatory framework for digital assets and will ignore them if the court does not grant their request.

In a new petition, representatives from Coinbase state that the SEC has already decided to reject its request and that they do not have the right to sue the regulator.

The document further explains that the SEC’s words and actions suggest that they believe securities laws to be clear and workable in relation to digital assets, and no additional rulemaking is necessary.