Coinbase Heads Back To Court After SEC Denies Crypto Rulemaking Request

Cryptocurrency exchange Coinbase
COIN
plans to return to court today to try to force the Securities and Exchange Commission to create rules that would allow it to carry on its business. Earlier in the day, the regulator denied the request, filed 18 months ago, and followed that with a suit against the company for engaging in unauthorized securities activities.

“After 18 months of silence, we went to court to get the response the law requires,” Paul Grewal, the Coinbase chief legal officer, said in a post on X, the former Twitter. “With appreciation for the Third Circuit, later today we’ll again seek its help by challenging the SEC’s abdication of its duty.”

Coinbase initially won backing in May from the Court of Appeals for the Third Circuit, which ordered the SEC to rule on the…