On January 14, 2024, the US-based cryptocurrency exchange Coinbase celebrated a partial triumph in its case with SEC. The U.S. Court of Appeals for the Third Circuit said in its decision that the SEC did not adequately explain why it denied Coinbase’s 2022 petition for rulemaking related to cryptocurrencies. Ripple vs SEC case and its outcomes could have had a role in this case’s outcome as well, but how?
This comes at a time when the SEC is under increasing pressures over its regulatory stance on Cryptocurrencies, as as Ripple Lab’s struggle with the SEC draws closer to a climax.
Ripple vs SEC Case Unfolds
The ruling ordered the SEC to offer a clearer explanation of its decision. The court found the SEC’s denial of Coinbase’s request for clearer rules on crypto assets was not sufficiently explained.
Coinbase Chief Legal Officer Paul Grewal celebrated the win on X, saying, “We just won our petition for a writ of mandamus.”
Source: X
In delivering his opinio
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