April

Coinbase Chief Legal Officer, Paul Grewal, has once more urged for a mandamus to compel the SEC to provide a response to the company’s petition regarding cryptocurrency rulemaking. 
<h2 id="span-style-font-weight-400-coinbase-seeks-issuance-of-a-mandamus-span">Coinbase Seeks Issuance of a Mandamus</h2> 
According to the report, Coinbase is seeking the issuance of a mandamus within a 30-day timeframe to compel the SEC to provide an official response regarding the acceptance or denial of their petition. 
<h3 id="span-style-font-weight-400-criticism-of-the-sec-span">Criticism of the SEC</h3> 
On October 13,in an X <a href="https://twitter.com/iampaulgrewal/status/1713000837457621470?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1713000837457621470%7Ctwgr%5E2c2280a0606129dcc3ac57b5be66d57dbe8cfd0d%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcoinbase-to-compel-sec-to-act-on-crypto-rulemaking-petition">post</a>, Coinbase’s Chief Legal Officer, Paul Grewal, strongly criticized the SEC for what he perceived as unwarranted delay and urged the necessity of a mandamus to compel the SEC to clearly articulate its intentions. He also <a href="https://twitter.com/iampaulgrewal/status/1712205972884926791">shared</a> Coinbase’s response to the SEC’s update, which the company had submitted to the U.S. Court of Appeals for the Third Circuit. 
As per the <a href="https://assets.ctfassets.net/c5bd0wqjc7v0/3F1NqpX4RHmAW666ErJV4K/8d0b1bb32ee4ad11e6cb5e154176bf95/2023.10.13_-_Dkt._34-2_-_Coinbase_Proposed_Response.pdf">response</a>: “The SEC’s unilluminating report is mere bureaucratic pantomime and confirms that nothing short of mandamus will prompt the agency to take its obligations seriously. It took more than a year and an order from this Court to elicit even a staff-level recommendation.” 
<h2 id="span-style-font-weight-400-sec-s-underwhelming-response-span">SEC’s Underwhelming Response</h2> 
This comes after an eagerly anticipated development in which the SEC issued a status update on October 12, which, to the frustration of many, just offered a vague statement indicating that “commission staff provided a recommendation” to the SEC in response to Coinbase’s petition, without revealing any specific details. 
<h3 id="span-style-font-weight-400-coinbase-vs-sec-span">Coinbase vs. SEC</h3> 
Coinbase has faced a prolonged period of <a href="https://youtu.be/FlE-3Qwf_JQ">regulatory scrutiny and legal conflicts</a> with U.S. regulators. Notably, Coinbase <a href="https://thecoinrise.com/coinbase-files-lawsuit-against-the-sec-over-regulatory-obscurity/">initiated its request months ago in April</a> by filing a lawsuit, seeking a court order that would compel the SEC to respond to its inquiry.&nbsp; 
In June of this year, <a href="https://thecoinrise.com/coinbase-slams-sec-for-not-providing-response-to-rulemaking-petition/">Coinbase sent a letter to the Securities and Exchange Commission</a> (SEC), in which it alleged that the SEC had disregarded its call for the establishment of a regulatory framework for digital assets and had consistently avoided addressing Coinbase’s requests for rulemaking. 
The post <a rel="nofollow" href="https://thecoinrise.com/coinbase-continues-to-push-sec-to-act-on-crypto-rulemaking-petition/">Coinbase Continues to Push SEC To Act on Crypto Rulemaking Petition</a> appeared first on <a rel="nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Coinbase Continues to Push SEC To Act on Crypto Rulemaking Petition

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