TechFlow news, according to The Block, Coinbase Chief Legal Officer Paul Grewal said Friday that the cryptocurrency exchange is challenging the U.S. Securities and Exchange Commission's (SEC) decision to reject its request for establishing new regulatory rules for digital assets.
Paul Grewal stated: "We appreciate the two commissioners who disagreed with the rejection and called for a genuine dialogue. We should work together to create laws and regulations that benefit consumers and American innovation, rather than responding to lawsuits based on legal positions that change every month. After 18 months of silence, we have gone to court to obtain the response required by law. Thanks to the Third Circuit Court, later today we will once again ask for its assistance in challenging the SEC’s abandonment of its responsibilities."
It is understood that Coinbase and the SEC have been at odds since Coinbase requested new rules in 2022.
Previous report, earlier that day, the SEC rejected Coinbase's long-standing petition for new rules regarding cryptocurrency regulation, calling it "unnecessary."
