Coinbase has again attacked the U.S. securities regulator for failing to respond to its petition, this time using SEC chair Gary Gensler's recent public speech to convince the court to force the SEC's hand.
Coinbase accuses the SEC of simultaneously claiming that it hasn’t made up its mind on the exchange’s demands while SEC chairman Gary Gensler publicly states that “the rules have already been published.”
The digital asset company has taken legal action against the SEC, asking a federal judge to force the U.S. financial markets regulator to respond to a previous petition for digital asset specific rules.
U.S. SEC believes it has identified securities violations relating to "aspects of the Company's spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet" products.
Coinbase has been served with a Wells notice, a formal letter sent by the SEC to notify people or firms that it has concluded they are in violation of securities laws and is intending to bring an enforcement action against them.
