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TL;DR
The SEC has been straight up ignoring Coinbase’s request for clear regulatory steerage.
However the Third Circuit Court docket of Appeals simply ordered the SEC to answer Coinbase’s allegations of inadequate regulatory steerage inside 10 days.
This implies the SEC has 10 days to supply a authorized foundation for why it hasn’t responded to Coinbase’s petition.
Full Story
To the older siblings of the Web3 Every day neighborhood:
Keep in mind whenever you aged into the roll of ‘babysitter’ in your youthful siblings? Keep in mind how exhausting it was to get them to take heed to you?
(They’d simply fortunately ignore you – as if it wasn’t 8:30pm and time to brush their enamel – the nerve!).
But the second your mother and father acquired residence, your dad would fireplace up his ‘I am not offended, I am simply dissatisfied’ baritone, they usually’d snap to consideration.
Effectively, very similar to your bratty youthful siblings, the SEC has been straight up ignoring Coinbase’s request for clear regulatory steerage.
However now – say it with us:
Daddy’s residence.
By ‘daddy,’ we imply the Third Circuit Court docket of Appeals, and by ‘residence’ we imply they’ve ordered the SEC to answer Coinbase’s allegations of inadequate regulatory steerage inside 10 days.
To be clear:
This doesn’t suggest the SEC has 10 days to give you new/up to date regulatory pointers, however as an alternative present a authorized foundation for why it hasn’t responded to Coinbase’s petition.
It is not a leap. It is not a certain. However it’s a step in the precise path.
We’ll take it!
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