SEC FILING HITS BACK AT COINBASE 'POWER GRAB' ACCUSATIONS

Summary from the TLDR Crypto newsletter

The SEC has asked the court proceeding over its lawsuit against Coinbase to reject Coinbase's petition asking for a new regulatory system for crypto. In March, Coinbase claimed that the SEC does not have the authority to extend securities rulings to apply to crypto. The SEC sees its incremental application of existing regulations to crypto as reasonable and within its discretion.