Coinbase files court action to compel SEC’s response to rulemaking petition

Coinbase has filed an action in a United States federal court seeking to compel the country’s securities regulator to provide a “yes or no” response to a petition that the exchange has had pending since July.

The petition requested the Securities and Exchange Commission propose and adopt clearer regulatory guidelines for the cryptocurrency industry in the U.S.

In the petition, the exchange asked the financial regulator to answer a total of 50 specific questions concerning the regulatory treatment of certain digital assets. The questions are broad in scope and range, including asking the SEC to provide clarification about how it goes about classifying tokens as securities. 

Read more: Cointelegraph