TechFlow news, according to Blockworks, the U.S. Securities and Exchange Commission (SEC) has responded to Coinbase's previous complaint, stating that Coinbase has no right to demand that a government agency fulfill certain duties. "Perhaps recognizing this, Coinbase instead claims the court should compel the SEC to act on its recently submitted rulemaking petition—but no statute or regulation requires the SEC to take such action within a specific timeframe."
Previously reported: Coinbase sued the U.S. SEC, demanding a response regarding specific rules for digital assets; on May 4, the court ordered the SEC to respond to Coinbase's cryptocurrency rule petition within 10 days.
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