SEC Finally Responds to Coinbase Lawsuit
The Breakdown
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The SEC's Response to Coinbase's Rulemaking Petition
The SEC argued that its inaction regarding the Coinbase petition did not imply that it has decided not to engage in rulemaking. The regulator reminded the court that quote no statute or regulation requires the commission to take such action on a specific timeline. They note that Gensler only ever speaks his own opinion and not to the broader opinion of the regulator.
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Transcript
