The US Securities and the Stock Exchange Commission (SEC) lawyers submitted a file containing the signals of a possible agreement with Coinbase. The file stated that the regulator was referred to the new crypto work group.
Expansion request for SEC’s process
In response to Coinbase’s appeal against a federal judge last month, Coinbase demanded additional time from the Federal Court in order to extend the response time. Last year, the relevant court found Coinbase’s allegations of SEC’s allegations in the assessment of unregistered securities as a platform.
Similar requests in other cases
Coinbase demanded an opinion from the court about how the laws of securities can be applied to crypto beings. At the same time, there is a similar situation in the case of SEC’s case with Binance, and the regulator requested an additional 60 -day waiting period.
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The SEC wanted to recognize an additional period of four weeks to the response date determined as February 14th. This extension request was based on the idea that the valid crypto work group may affect both the relevant local court process and the possible appeal examination. The study group is under the leadership of Mark Uyeda, the President of the SECA, and under the leadership of commissioner Hester Peirce.
By referring to similar applications in the past, it was stated that the ongoing examination of the regulator on crypto -related issues may be effective. The relevant extension was presented as an indicator of the additional time requirement required by the current review process.
“The work of the crypto work group may contribute to the potential solution of the relevant local court process and appeal examination. The regulatory demands additional time to answer the Coinbase application by stating that the examination of the current crypto subjects continues. ” – Explanation in the SEC file
While the judicial process continues, the steps related to the subject can prepare the ground for solutions in the following process. The SEC’s monitoring of similar strategies in different files shows that the process requires a comprehensive examination and evaluation.
In the light of the extensions requested by the regulatory institution, the existing court decisions and the ongoing appeal process, additional steps can be taken on possible agreements and regulatory evaluations in the following process. This development is one of the issues that should be followed for other institutions and investors operating in the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
