SEC Asked To Report In Coinbase Crypto Rulemaking Case In Next 120 Days – Crypto News – Crypto News
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SEC Asked To Report In Coinbase Crypto Rulemaking Case In Next 120 Days – Crypto News

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Coinbase Crypto Rules Case News: The United States Court of Appeals for the Third Circuit on Tuesday announced that it will retain jurisdiction in the Coinbase led fight to gain clarity over crypto regulations from the Securities and Exchange Commission (SEC). The order mentioned that it would not rule at this time on the petition for a Writ of Mandamus and allowed the commission to submit its reply.

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As per the court’s order, a further report needed to be submitted by the US SEC in the next 120 days or on October 11, 2023. This comes after the commission denied to reply to the Coinbase’s filed request and asked the court to provide them with additional time.

Paul Grewal, Chief Legal Officer at Coinbase stated that a report on basic crypto rules is due in the next 120 days by the US SEC. He stated that he is grateful that the court will keep on shining a light on an SEC process that is till now being operated in darkness.

He added that the recent order by the Circuit deserves a praise for upholding the basic idea that the SEC is accountable under the law, too.

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Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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