TechFlow news — On January 14, Coinbase Chief Legal Officer paulgrewal.eth announced on X that Coinbase has just won a petition for a writ of mandamus at the Third Circuit Court. The court rejected the U.S. Securities and Exchange Commission’s (SEC) order dismissing its rulemaking petition, meaning the SEC must reconsider Coinbase’s request and provide a more thorough explanation for its refusal to establish clear rules regarding cryptocurrencies. The judge stated, “The SEC’s order was conclusory, inadequately reasoned, and therefore arbitrary and capricious. We grant in part Coinbase’s petition and remand to the SEC for a more comprehensive explanation.”
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