Coinbase cites SEC action against Kraken in push for crypto rulemaking
United States cryptocurrency exchange Coinbase has again requested the Securities and Exchange Commission (SEC) to provide rules for crypto trading and has used the recent action by the SEC against Kraken as evidence in its claim. Coinbase submitted its request in a November 22 court filing, responding to a November 21 promise from the SEC to provide a status report by December 15 on the rulemaking petition which Coinbase filed in July 2022. In the petition, Coinbase requested the SEC to create rules for the regulation of securities that are traded digitally. It concludes that only a court order will compel the SEC to act. The need for rulemaking is particularly pertinent as the SEC appears to be drawing close to a decision on a spot Bitcoin exchange-traded fund.
