Coinbase Takes Legal Action Against SEC Over Lack of Crypto Regulations

Coinbase has filed a petition in a federal court to compel the Securities and Exchange Commission (SEC) to respond to its demand for clearer crypto regulations. The exchange sent the SEC its “petition for rulemaking” last July, seeking answers to 50 specific questions that would provide “clarity and certainty regarding the regulatory treatment of digital asset securities." Coinbase's challenge comes amid a regulatory crackdown in the U.S., where agencies like the SEC and the Commodity Futures Trading Commission (CFTC) have stepped up their scrutiny of digital assets firms so far this year.