Coinbase is considering a lawsuit against the SEC, which rejected its rulemaking petition.
As it is known, the SEC announced in the evening that it rejected the rule-making petition of the Bitcoin exchange Coinbase.
A statement came from Coinbase chief legal officer Paul Grewal against this rejection decision. Grewal stated that they are preparing to take this rejection decision of the SEC to the court and said:
“Today, the SEC rejected Coinbase's petition regarding crypto rules. We will file a lawsuit against this rejection decision.
“We will also appeal the rejection decision to the SEC.”
Today the SEC denied Coinbase’s petition for rules for crypto. After 18 months of silence, we went to court to get the response the law requires. With appreciation for the Third Circuit, later today we'll again seek its help by challenging the SEC’s abdication of its duty. 🧵⬇️ pic.twitter.com/tFjiW53eF7
— paulgrewal.eth (@iampaulgrewal) December 15, 2023
