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Coinbase Scores Legal Victory Against SEC, Forcing Agency to Rethink Crypto Rules

Mary Liu

Summary: In a tweet, Coinbase CTO Paul Grewal announced that the company has won a significant legal battle against the U.S. Securities and Exchange Commission (SEC), securing a court order compelling the regulator to reconsider its decision to deny a rulemaking petition.  The Third Circuit Court of Appeals ruled that the SEC's decision was "arbitrary and ...

In a tweet, Coinbase CTO Paul Grewal announced that the company has won a significant legal battle against the U.S. Securities and Exchange Commission (SEC), securing a court order compelling the regulator to reconsider its decision to deny a rulemaking petition. 

The Third Circuit Court of Appeals ruled that the SEC's decision was "arbitrary and capricious," and must provide a more comprehensive explanation. This victory is a major win for Coinbase and the cryptocurrency industry as a whole, as it could pave the way for clearer regulations in the space.

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