Coinbase Asks Court To Grant Them Mandamus Amid US SEC Delay Tactics

Coinbase News: As the U.S. Securities and Exchange Commission (SEC) crackdown on the cryptocurrency industry continues, Coinnbase hopes to get an advantage in the district court. One of the largest crypto exchanges filed a response to the commission’s request to grant them additional 120 days to reply to Coinbase’s rulemaking petition.

Also Read: Rug Pull Alert: List Of Altcoins Celsius Network Will Sell On July 1st

Coinbase Not Holding Back Against US SEC

Paul Grewal, Coinbase’s Chief Legal Officer announced that they filed a reply to US SEC’s response in the U.S. Court of Appeals for the Third Circuit filings. He stated that the exchange couldn’t wait for the next deadline as they find it unusual for the government to flout a direct query from a federal court.

The commission in its reply to Coinbase’s rulemaking petition mentioned that it hasn’t decided what action to take on. However, It asked for another 120 days to file a reply to it. The US SEC has been alleged of filing enforcement actions against the crypto linked business in the absence of clear regulations around it.

Coinbase Legal Chief stated that the court should grant mandamus to them now as the US SEC has decided not to permit the crypto exchange’s petitions

AD

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.