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The Coin Rise 2025-02-15 12:15:07

SEC Requests More Time in Coinbase Lawsuit as Crypto Task Force Gains Momentum

The U.S. SEC has requested a 28-day extension to review crypto exchange Coinbase’s appeal in its ongoing legal battle. The agency stated that its newly established crypto task force could play a key role in facilitating a resolution. In a Feb. 14 filing, the SEC said its ongoing evaluation of crypto-related issues required additional time to prepare a response to Coinbase’s petition. The regulator’s request, if granted, would push its deadline to respond from Feb. 14 to March 14. Coinbase agreed to the extension, marking another delay in the legal standoff that has lasted nearly two years. This comes just days after the SEC and Binance filed a joint motion to pause their case for 60 days, also citing the crypto task force’s role in developing a regulatory framework. Coinbase SEC Legal Battle Continues The SEC originally sued Coinbase in June 2023, accusing the exchange of offering unregistered securities and operating without proper regulatory approvals. Coinbase has repeatedly argued that crypto assets do not fall under securities laws and has been pushing for clarity on how digital assets should be classified. On Jan. 21, Coinbase filed an appeal asking the U.S. court to rule that crypto trades on its platform are not securities. The exchange emphasized that the classification of secondary market crypto transactions is critical to the industry’s future. The case took a notable turn in March 2024 when Judge Katherine Failla granted an appeal request to review her earlier order denying Coinbase’s motion for judgment. The judge also stayed all proceedings until the Second Circuit rules on an interlocutory appeal. Optimism for Regulatory Clarity The SEC’s announcement of a dedicated crypto task force has raised expectations that long-standing lawsuits involving major exchanges may be resolved sooner rather than later. The task force is being led by SEC Commissioner Hester Peirce, a known advocate for balanced crypto regulations. Acting SEC Chairman Mark Uyeda , who announced the initiative, has also expressed openness to a more structured regulatory framework for digital assets. As the SEC’s stance on crypto appears to be shifting under the new administration, industry participants are closely watching whether the agency will drop cases against Coinbase and other firms—or move toward a clearer, more favorable regulatory approach. The post SEC Requests More Time in Coinbase Lawsuit as Crypto Task Force Gains Momentum appeared first on TheCoinrise.com .

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