SEC asks for more time to respond to Coinbase call for crypto clarity

June 13. 2023

By Jesse Coghlan

The securities regulator said it would make a recommendation within 120 days on Coinbase’s rulemaking request, but says the action has “no merit.”

The United States securities regulator has asked for four more months to provide a response to Coinbase’s request for crypto regulatory clarity.

In a June 13 letter submitted to the U.S. Court of Appeals for the Third Circuit, the Securities and Exchange Commission (SEC) said it needs an additional 120 days to reply to Coinbase’s request that it adopt new rules and provide further clarity on the laws governing crypto.

The letter was in response to the court’s June 6 order to the SEC which asked the regulator to address if it’s denying the rulemaking or if it needs more time to respond.

The letter was in response to the court’s June 6 order to the SEC which asked the regulator to address if it’s denying the rulemaking or if it needs more time to respond.

The SEC said it “has not decided what action to take on that petition in whole or in part” and claimed Coinbase’s request for a writ of mandamus has “no merit.”

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