Coinbase challenges SEC’s rejection of digital asset rulemaking petition
Coinbase’s chief legal officer, Paul Grewal, has criticized the U.S. Securities and Exchange Commission (SEC) for its minimalistic legal response regarding the exchange’s request for clearer cryptocurrency regulations. In a Jan. 30 X post, Grewal highlighted the inadequacy of the SEC’s documentation, which formed the basis of its decision to reject Coinbase’s petition for digital asset rulemaking. Below is the administrative record of @SECGov's decision rejecting our petition for digital assets rules. See for yourself whether it's even close to complete or sufficient to justify their decision. Our brief is due 3/11; the SEC brief is due 4/10, and our reply is due 5/1. 1/3 — paulgrewal.eth (@iampaulgrewal) January 30, 2024 The saga began in June 2022 when Coinbase submitted a petition urging the SEC to establish more transparent rules for the burgeoning crypto industry. However, the SEC dismissed this request in December 2023, maintaining that...