Frustrated Coinbase sues SEC for regulatory clarity

The US Securities and Exchange Commission’s refusal to engage with the cryptocurrency sector is causing “paralysing uncertainty in the industry” while putting companies like Coinbase at risk and causing great “potential for harm”, Coinbase lawyers told the US Court of Appeals of Monday. Coinbase’s missive against the SEC calls on Gary Gensler’s hawkish regulator to respond to the Nasdaq-listed cryptocurrency exchange’s 2022 detailed petition asking for regulatory guidance for the nascent sector.