Regulation
Is Coinbase Vs SEC Lawsuit Ending? US SEC Seeks 30-Day Extension
Coinbase Vs SEC Lawsuit: The U.S. Securities and Exchange Commission (SEC) has requested a 30-day extension in its legal case against Coinbase. The request was made in a court filing on Friday, where the SEC mentioned that its newly formed crypto task force could help resolve the case.
This move has raised speculation about a possible settlement between the regulator and the cryptocurrency exchange.
US SEC Seeks 30-Day Delay in Coinbase Lawsuit
The US SEC’s request for an extension in the Coinbase Vs SEC Lawsuit was filed in a federal appeals court, where Coinbase had earlier appealed a district court ruling.
Judge Katherine Polk Failla previously ruled that the SEC had a valid case against Coinbase for allegedly offering unregistered securities. Coinbase then sought the appeals court’s opinion on how securities laws apply to digital assets.
The SEC stated that the crypto task force, led by Acting Chair Mark Uyeda and Commissioner Hester Peirce, could influence the case’s outcome.
“The crypto task force’s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources,” the SEC said in its filing.
The commission asked for additional time to prepare its response to Coinbase’s appeal.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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