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SEC Responds to Coinbase Request For Action: ‘No’
The Securities and Exchange Commission has issued a response to Coinbase’s complaint requesting the agency to establish regulatory clarity for the industry. In an April mandamus petition, Coinbase demanded federal courts to instruct the SEC to act and issue clear guidelines for crypto exchanges and companies. In its response, released Monday evening in New York, the SEC alleged Coinbase has no right to mandamus, which orders a government agency to fulfill certain duties. “Perhaps recognizing this, Coinbase instead asserts that this Court should compel the Commission to act on Coinbase’s recently filed ... (full story)
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Brief for respondent securities and exchange commission
From storage.courtlistener.com
Mandamus is an extraordinary remedy—one that requires the petitioner to show a clear and indisputable right to relief. Coinbase does not and cannot demonstrate such a right. Neither the securities laws nor the Administrative Procedure Act (“APA”) impose on the Securities and Exchange Commission (“SEC” or “Commission”) an obligation to issue the broad new regulations regarding “digital assets” Coinbase has requested. Perhaps recognizing this, Coinbase instead asserts that this Court should compel the Commission to act on Coinbase’s recently filed rulemaking petition. But no statute or regulation ... (full story)
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