New Coinbase court challenge adds to mounting legal battle: 'We're absolutely convinced the SEC is violating the law'

The firm says the SEC ignoring its petition from July amounts to a "pocket veto."

Highlights

In July, U.S.-based crypto firm Coinbase filed a petition with the Securities and Exchange Commission, imploring the agency to engage in rulemaking for the sector.
After not receiving a response, the firm filed a challenge in federal court to compel the SEC to respond to its petition.
The firm says the SEC ignoring its petition from July amounts to a “pocket veto” of its petition, which is part of its mounting legal action to defend the company and the sector’s survival.
The company has established a reputation as a compliant and regulatorily focused company, especially after going public in April 2021.
The SEC Chair Gensler has publicly stated on numerous occasions that existing laws are sufficient

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