Coinbase has criticized the Securities Exchange Commission (SEC) for dodging its rulemaking petition as part of its ongoing legal case against the regulator.
On June 13, the SEC informed the court that it had yet to decide on a course of action regarding the petition, adding that there should be no specific deadline for a response or a requirement to provide periodic reports per the plaintiff’s request.
Coinbase urged the SEC to issue regulatory guidance for the digital asset industry in July 2022, which in part led to the exchange suing the agency in April following a failure to respond.
In the latest, a letter from Coinbase’s defense team reiterated previous claims that the SEC refused to provide regulatory clarity while demanding compliance with non-existent rules.
Quoting SEC chair Gary Gensler, who said, “The rules and regulations are already clear,” in the days following the agency suing Coinbase, Coinbase argued that the agency would not likely engage in rulemaking and a
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