How the tables have turned.
Publicly traded cryptocurrency exchange Coinbase has filed a lawsuit against the Securities and Exchange Commission ,With its suit, Coinbase is urging the regulatory arm to publicize its response to a separate petition, which it filed back in July 2022, requesting the SEC to "propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods.
According to the filing, the SEC has been silent on the July petition — and Coinbase wants the regulator to inform the public of its response. "From the SEC's public statements and enforcement activity in the crypto industry, it seems like the SEC has already made up its mind to deny our petition," Coinbase's chief legal officer, Paul Grewal, wrote in a company"So the action Coinbase filed today," Grewal added, "simply asks the court to ask the SEC to share its decision."that securities charges may be pending, meaning that Coinbase could soon be facing enforcement action itself.
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