Coinbase petitioned the SEC in July 2022 to propose and adopt rules governing the regulation of digital assets.

Coinbase (NASDAQ: COIN) has filed a court action urging the U.S. Securities and Exchange Commission (SEC) to respond to their petition for regulatory guidance on digital assets, which was submitted in July 2022.

The company believes that regulatory clarity in the cryptocurrency space is overdue and wants the SEC to share its decision on their petition. (Bitcoin.com)

Coinbase’s chief legal officer stated that the SEC seems to have already made up its mind to deny the petition based on their public statements and enforcement actions, but they have not formally shared their decision with the public.

It acknowledges the need for regulations and has been requesting clear rules from authorities for years.

The legal action is part of Coinbase’s ongoing effort to seek clarity and establish guidelines for the cryptocurrency industry.

Related Story:   It Gets Worse – Coinbase Announces A Third Round Of 950 Layoffs

Image by Sergei Tokmakov, Esq. https://Terms.Law