Coinbase takes legal action against SEC over crypto regulations.

Coinbase has filed a lawsuit against the SEC, asking the regulator to publicly share its answer to a petition from July 2022 on whether the crypto industry can be regulated using existing SEC frameworks. The SEC has not offered a specific public response to Coinbase's petition, but has ramped up enforcement actions and warnings against crypto exchanges in recent months. Coinbase's move comes a little over a month after it was warned by the SEC of pending legal action through a Wells notice.