Coinbase Takes Jab at SEC With Lawsuit Over Rule Petition
- Company wants court to compel regulator to respond to petition
- SEC told crypto firm that it plans to take enforcement action
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Coinbase Global Inc., the largest US crypto trading platform, isn’t waiting for the SEC to make the first move in what is expected to be a prolonged legal battle between the two.
The digital-asset firm asked a court Monday to compel the US Securities and Exchange Commission to respond to a rulemaking petition the company submitted last year. The company, in a lawsuit filed with a federal appellate court in Philadelphia, argued that the agency hasn’t been reasonable or prompt in providing a response.