- Coinbase wants the court to force the SEC to respond to a petition for crypto rules.
- The SEC has submitted its response to the petition.
- Coinbase faces an uphill task, but there is a twist.
The United States Securities and Exchange Commission has ramped up its crypto enforcement efforts in 2023, despite an industry-wide cry for clear rules.
Coinbase, the largest crypto exchange in the U.S., decided to take the SEC to court over this perceived lack of clarity on what digital assets constitute securities.
But undaunted by the wide range of support that Coinbase has received, the SEC has filed to throw out the case. To understand the SEC’s filing, however, it is necessary to first understand what Coinbase is requesting.
A Writ of Mandamus
In April, Coinbase filed a petition with the Third Circuit of the U.S. Court of Appeals for a “writ of mandamus” to the SEC.
A writ of mandamus refers to…
