SEC Asks Court for Coinbase Case Deadline Extension, Citing 'Potential Resolution' Prospects

SEC Asks Court for Coinbase Case Deadline Extension, Citing 'Potential Resolution' Prospects

SEC Signals Possible Settlement in Coinbase Case, Citing Crypto Task Force

The U.S. Securities and Exchange Commission (SEC) has hinted at a potential resolution in its ongoing legal battle with Coinbase, citing the work of its newly formed crypto task force. In a Friday court filing, the SEC requested a four-week extension to respond to Coinbase’s appeal of a federal judge’s ruling that the exchange may have sold unregistered securities. The agency argued that the task force, led by Commissioner Hester Peirce, could facilitate a resolution. This marks the second crypto-related case in which the SEC has sought an extension, following a similar move in its case against Binance earlier this week.

SEC Hints at Possible Settlement in Coinbase Case, Requests Extension

The U.S. Securities and Exchange Commission (SEC) has signaled a potential resolution in its ongoing lawsuit against Coinbase, citing the newly formed crypto task force as a key factor. In a court filing on Friday, the SEC requested a four-week extension to respond to Coinbase’s appeal, arguing that the task force’s work could help facilitate a settlement and provide clarity on crypto-related regulations.

The legal battle stems from a lawsuit in which District Judge Katherine Polk Failla ruled that the SEC had a plausible case against Coinbase for allegedly offering unregistered securities. Coinbase appealed the decision, seeking judicial clarification on how securities laws apply to digital assets.

The SEC’s request follows a similar move in its case against Binance earlier this week, where both parties agreed to a 60-day stay in an effort to reach a resolution. Acting SEC Chair Mark Uyeda, who recently took over leadership of the agency, has formed the crypto task force under Commissioner Hester Peirce, signaling a shift in the regulator’s approach to digital asset enforcement.

The outcome of these cases could have major implications for the crypto industry, as regulators and exchanges navigate the evolving legal landscape of digital assets in the U.S.