Coinbase criticizes SEC’s lack of response to their legal battle

The cryptocurrency exchange criticized the SEC for not providing a response to questions raised before the Court of Appeals

Coinbase has criticized the United States securities regulator for its failure to respond to questions raised in the Court of Appeals regarding its ongoing legal dispute with said body.

In a letter filed with the Court on June 17, lawyers for the cryptocurrency platform singled out the Securities and Exchange Commission for skirting Coinbase’s regulatory request, which seeks to establish a regulatory framework for digital assets.

“When ordered by this Court to address the flagrant inconsistency between its position in litigation and its actions and statements elsewhere, the SEC avoids offering direct answers and instead repeats its arguments”, Coinbase’s letter stated.

The letter was a response to the SEC’s June 13 filing, requesting a 120-day extension to respond to Coinbase’s regulatory request.

The exchange alleged that the SEC is reluctant to inform the Court of updates to its decision, stating that it “is reluctant even when ordered to keep the Court abreast of its progress.” Binance CEO considers the SEC’s request for emergency relief unwarranted.

The firm claimed that the SEC’s silence, lengthy delays, and its regulatory actions continue to negatively affect the cryptocurrency industry, accusing SEC Chairman Gary Gensler of irreparably harming a US company and the entire industry. in general.

On June 17, Coinbase’s chief legal officer, Paul Grewal, mentioned in a series of tweets that it is “unusual for the government to avoid a direct question from a federal court.”

K. Tovar

Source: Cointelegraph

(Reference image source: Jonathan Borba, Unsplash)

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