🔥 Coinbase asks court to force SEC to start writing rules for cryptocurrencies

💠 The two sides have argued for many years about the need to create regulations. Coinbase first asked the SEC to release a formal rulemaking process to “provide guidance to the cryptocurrency industry” in July 2022.

➡️ In the 78-page brief, Coinbase argues that the SEC has prioritized taking multiple enforcement actions against cryptocurrency entities over the years instead of establishing regulation for the industry. The SEC has aggressively pursued allegations over the years, which have ranged from fraud to failure to properly register with regulators.

➡️ The SEC has not yet responded immediately upon request.

⏰ In a separate lawsuit, Coinbase is being sued by the SEC for operating as an unregistered exchange.