Court Order SEC to Respond to Coinbase Mandamus
Last Coinbase filed a lawsuit against the Securities and Exchange Commission (SEC) seeking a writ of mandamus. The company has been urging the SEC to establish clear rules for the offer, sale, registration, and trading of digital asset securities, aiming to provide fair notice to all market participants and facilitate global resolution through consolidated judicial review. Coinbase argues that despite numerous efforts, including a rulemaking petition, meetings, and supplemental comments, the SEC has not taken any action on Coinbase's request or provided feedback on its proposals. Blog Post
Yesterday, the Third Circuit Court of Appeals issued a text only order directing the SEC to respond:
At the direction of the Court, Respondent is ordered to file an answer to the petition for writ of mandamus within 10 days of the date of this order. Petitioner may file a reply to the response within 7 days of the date of filing of the response. Text Order