Coinbase just sued the Securities and Exchange Commission, about a month after being threatened by the SEC with potential litigation.
Highlights
- Bitcoin exchange Coinbase has filed a lawsuit against the Securities and Exchange Commission.
- The exchange is urging the SEC to publicize its response to a separate petition filed in July 2022.
- The SEC has been silent on the July petition, and the exchange wants the public to know the regulator’s decision.
- It comes a month after the exchange was warned by the SEC that securities charges may be pending, meaning that the exchange could soon be facing enforcement action itself.
- As of right now, cryptocurrencies are largely unregulated, and while the industry’s Wild West nature has led to plenty of chaos, some fear that regulation might do more harm than good.
- For its part, the exchange says that it’s taking the SEC’s litigation threats seriously.
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New Coinbase court challenge adds to mounting legal battle: 'We're absolutely convinced the SEC is violating the law'