Countdown Begins: SEC Has Just 7 Days To Explain Coinbase Decision Delay
Portfolio Pulse from Murtuza Merchant
The U.S. Court of Appeals for the Third Circuit has mandated the SEC to clarify its stance on a rulemaking appeal initiated by Coinbase. The SEC has a week to either reject the petition and provide justifications or provide an estimated timeline for their final decision. This occurs amid an SEC lawsuit against Coinbase, accusing the crypto exchange of operating an unregistered securities exchange.
June 07, 2023 | 6:43 pm
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The SEC has been mandated to clarify its stance on a rulemaking appeal initiated by Coinbase, amid an ongoing lawsuit accusing the crypto exchange of operating an unregistered securities exchange.
The SEC's decision on Coinbase's rulemaking appeal could have implications for the ongoing lawsuit against the company. However, it is uncertain how the SEC's response will impact Coinbase's stock price in the short term, as the outcome of the lawsuit and the rulemaking appeal are still unknown. Therefore, the short-term impact on COIN's stock price is neutral.
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