The post Coinbase Vs SEC: US Regulator Requests 28-Day Deadline Extension On Petition Response appeared on BitcoinEthereumNews.com.

On Friday, February 14th, the United States Securities and Exchange Commission requested a 28-day extension of its deadline to respond to Coinbase’s appeal. This latest move represents an interesting development in the protracted legal battle between the regulatory agency and the US’ largest crypto exchange. Why SEC Asked For A Deadline Extension In its latest filing, the SEC asked the court to extend its deadline to respond to crypto exchange Coinbase’s appeal from February 14 to March 14. Both parties have been at loggerheads on whether or not digital assets should be classified as securities. On January 17, 2025, Coinbase submitted its petition for permission to appeal the court’s March 2024 opinion and order. However, the SEC motioned — and was granted — for a 14-day extension of time to respond to the crypto exchange’s petition. The SEC claims that the reason for its latest extension request is the formation of its new crypto task force by the agency’s acting chairman, Mark Uyeda. The acting SEC Chairman Uyeda instituted the task force to help develop an adequate regulatory framework for digital assets. Source: Courtlistener According to the commission, the work of the Hester Peirce-led task force may impact its response to Coinbase’s appeal and potentially resolve the underlying classification issue. The court document read: The crypto task force’s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources. Because the Commission’s review of crypto-related issues is ongoing, the Commission requests this additional time to prepare its answer to Coinbase’s petition and for appropriate review. The SEC noted that neither party will be prejudiced by the approval of the deadline extension. The regulatory agency also highlighted in its filing that Coinbase consents to the extension request, as the…

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Filed under: News - @ February 16, 2025 4:11 am