Coinbase asks for mandamus against SEC, continues to demand rulemaking

Coinbase is inactive asking the U.S. Securities Exchange Commission to prosecute successful rulemaking via the ineligible system, an enforcement said connected May 23.

Coinbase continues to taxable filings

Coinbase CLO Paul Grewal wrote connected Twitter:

” … Coinbase replied successful the Third Circuit to the SEC’s arguments against our petition for a writ of mandamus. Mandamus is the tailor-made remedy for the bonzer facts presented here.”

Coinbase received a Wells notice from the SEC connected March 22 indicating that the bureau could soon instrumentality ineligible enactment against the institution for expected regulatory violations.

Starting connected April 25, Coinbase began to taxable ineligible filings successful bid to compel the SEC to reply an earlier petition and supply it with wide rules. On May 15, the SEC responded by stating that it has nary work to make caller regulations.

Coinbase challenges past results

Coinbase’s latest tribunal filing, dated May 22, attempts to situation the SEC’s refusal to prosecute successful rulemaking. Coinbase claims that SEC members person publically stated that they volition not prosecute successful rulemaking — portion besides making statements that suggest that they are “actively considering” Coinbase’s petition and different regulatory approaches.

Coinbase additionally argued that the SEC’s wide enforcement actions against the crypto manufacture besides show that it is not considering the petition.

At the extremity of the latest filing, Coinbase asked the tribunal to contented a writ of mandamus, thereby forcing the SEC to respond to its archetypal petition successful 7 days.

Otherwise, the tribunal should bid the SEC to warrant its delay, find a timeline for its response, and supply updates, Coinbase said.

The station Coinbase asks for mandamus against SEC, continues to request rulemaking appeared archetypal connected CryptoSlate.