SEC Rejects Coinbase's Petition for New Crypto Rules

Coinbase to Challenge Decision in Court as Debate Over Crypto Regulations Continues

The U.S. Securities and Exchange Commission (SEC) has rejected a petition by Coinbase Global for the establishment of tailored rules for digital assets.
Coinbase's Chief Legal Officer, Paul Grewal, expressed disappointment with the SEC’s decision and announced plans to challenge the SEC’s rejection in court.
SEC Chair Gary Gensler emphasized that the current laws sufficiently cover crypto asset securities.
Commissioners Hester Peirce and Mark Uyeda, who opposed the SEC’s denial, encouraged ongoing dialogue and specific rule changes to support the crypto industry’s growth within the United States.
The SEC’s decision comes amid a broader debate over the need for industry-specific regulations for cryptocurrencies in the U.S.