The U.S. SEC was ordered by the court to file a follow-up report no later than 120 days.
The commission had requested more time in the last hearing.
On Tuesday, it was announced that the Third Circuit Court of Appeals will continue to hear the case brought by Coinbase and others to clarify Securities and Exchange Commission (SEC) restrictions on digital currencies. The petition for a Writ of Mandamus was noted in the ruling, and the commission was given the opportunity to respond.
The U.S. SEC was ordered by the court to file a follow-up report no later than 120 days from the date of the order, or October 11, 2023. After Coinbase submitted a request to the commission, the latter declined to respond and instead requested more time.
According to Coinbase’s Chief Legal Officer Paul Grewal, the US SEC is expected to release a report on foundational crypto laws within the next 120 days. He expressed appreciation that the court would continue to shed light on the SEC’s hitherto shadowy o
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