Crypto Exchange Coinbase Sues SEC Over Lack of Regulation Clarity

Coinbase filed a petition with the SEC in July 2020 for rulemaking in the crypto sector, but did not receive a response.
Coinbase wants a court to force the SEC to respond to its request for rulemaking on digital assets.
Coinbase has filed a lawsuit against the Securities and Exchange Commission (SEC) asking for clearer regulations.
Coinbase filed a petition to compel the SEC to respond to a months-old petition asking whether the industry can be regulated using existing SEC frameworks.
Coinbase responded to the SEC's Wells notice, stating that an enforcement action would pose "major programmatic risks" to the SEC and "fail on the merits."