SEC Denies Coinbase's Request for Crypto-Specific Rules, Urges Enforcement Actions Instead.

The US Securities and Exchange Commission (SEC) has told an appeals court that Coinbase has not provided sufficient evidence to justify the creation of a new regulatory framework for the digital asset industry. Coinbase had filed a petition with the SEC in July 2022, asking for guidance around digital assets. The SEC has not yet made a decision on the petition and "continues to consider" the filing, the regulator said in a filing. The SEC also noted that considering new rules or amendments to existing regulations does not preclude it from enforcing existing regulations.