Attorneys for the U.S. Securities and Change Fee hinted at a possible settlement with Coinbase in a late Friday court docket submitting, citing the regulator’s new crypto job pressure.
The SEC requested a federal appeals court docket to increase its deadline to answer Coinbase, which filed an enchantment of a federal choose’s ruling final month. District Decide Katherine Polk Failla dominated final 12 months that the SEC had introduced a believable case that Coinbase bought unregistered securities on its platform. The trade requested the appeals court docket panel to weigh in on how securities legal guidelines would possibly apply to crypto.
On Friday, the company requested for a four-week extension to its deadline (at present set for Feb. 14) to file its response, citing Performing SEC Chair Mark Uyeda’s new crypto job pressure, headed by Commissioner Hester Peirce.
“The crypto task force’s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources. Because the Commission’s review of crypto-related issues is ongoing, the Commission requests this additional time to prepare its answer to Coinbase’s petition and for appropriate review,” the submitting mentioned.
That is the second case the SEC requested for an extension in; earlier this week, the SEC and Binance filed for a 60-day keep within the regulator’s case in opposition to that trade and affiliated events, saying the extension might equally result in a decision. The choose overseeing that case granted the keep.
