Coinbase Wins Again as Third Circuit Orders SEC to Answer Rulemaking Petition
COINBASE WINS AGAIN — SEC DENIAL STAND DOWN
Coinbase’s petition for review of an SEC order was granted by the Third Circuit — an outcome that weakens the regulator’s ability to sidestep accountability when answering industry petitions.
The lawsuit arose because the crypto exchange asked the SEC for rulemakingPetitioning the SEC to clarify digital asset classification rules was Coinbase’s strategy — they asked the agency to address whether tokens fall under securities laws or instead belong under CFTC jurisdiction. Asking an group like the SEC to adopt rules was not成功的 — the regulator ignored their petition without replying or justifying its silence. Asking an group like the SECAdministrative Procedure Act APA demands agencies act on submitted petitions — under law they must at minimum respond. Asking an group like the petitioning company’s tipy<|eos|>
