Coinbase accuses SEC of continued 'delay' in responding to crypto rule petition

Coinbase argued in a letter to the US Third Circuit Court of Appeals on Wednesday that the SEC has been continuously "delaying" in its ongoing efforts to seek new regulations. Coinbase lawyer Eugene Scalia stated in the letter, "Only an order from this court will prompt the Commission to act." He believes that the latest information provided by the SEC to the court only promises further action without providing more information on its progress. After submitting a petition last year requesting regulatory agencies to draft new rules for digital assets, Coinbase sued the SEC in April. The SEC stated in June that it needed about four months to respond to Coinbase's request.