The Securities and Exchange Commission (SEC) has responded to Coinbase’s complaint. The largest American crypto exchange had sued the SEC on April 25, demanding clarity on crypto regulation. The company filed a petition for a writ of mandamus, which requires the SEC to respond within a reasonable time.
In the filing, Coinbase asks the SEC to formally clarify “which digital assets must be registered as securities.” In addition, the court should require the SEC to answer only “yes or no” to the question of whether it will impose rules on the crypto industry.
SEC Responds To Coinbase Complaint
Late Monday night (EST), the US regulator released its response, and the answer is once again more than disillusioning for the crypto community. Paul Grewal, Coinbase’s Chief Legal Officer (CLO) wrote via Twitter that the SEC’s response is “an overwhelming maybe”.
According to him, today’s filing marks the first time the SEC may have formally stated its views on whether and how t
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