US COURT ORDERS SEC TO EXPLAIN WHY IT DENIED COINBASE'S REQUEST FOR CRYPTO-SPECIFIC RULES
The U.S. Court of Appeals has ordered the SEC to explain its denial of Coinbase's request for crypto-specific regulations, citing the agency's reasoning as “arbitrary and capricious.” While the court did not require the SEC to draft new rules, it emphasized the need for clearer justification, especially given the challenges of applying old regulations to new tech like crypto.