{"id":13330,"date":"2025-02-16T04:01:36","date_gmt":"2025-02-16T04:01:36","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=13330"},"modified":"2025-02-16T04:01:36","modified_gmt":"2025-02-16T04:01:36","slug":"coinbase-vs-sec-us-regulator-requests-28-day-deadline-extension-on-petition-response","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=13330","title":{"rendered":"Coinbase Vs SEC: US Regulator Requests 28-Day Deadline Extension On Petition Response"},"content":{"rendered":"
\n

On Friday, February 14th, the United States Securities and Exchange Commission<\/a> requested a 28-day extension of its deadline to respond to Coinbase\u2019s appeal. This latest move represents an interesting development in the protracted legal battle between the regulatory agency and the US\u2019 largest crypto exchange.<\/p>\n

Why SEC Asked For A Deadline Extension<\/strong><\/h2>\n

In its latest filing<\/a>, the SEC asked the court to extend its deadline to respond to crypto exchange Coinbase\u2019s appeal from February 14 to March 14. Both parties have been at loggerheads on whether or not digital assets should be classified as securities.<\/p>\n

On January 17, 2025, Coinbase submitted its petition for permission to appeal the court\u2019s March 2024 opinion and order. However, the SEC motioned \u2014 and was granted \u2014 for a 14-day extension of time to respond to the crypto exchange\u2019s petition.<\/p>\n

The SEC claims that the reason for its latest extension request is the formation of its new crypto task force by the agency\u2019s acting chairman, Mark Uyeda. The acting SEC Chairman Uyeda instituted the task force to help develop an adequate regulatory framework for digital assets.<\/p>\n

\"Coinbase\"<\/p>\n

According to the commission, the work of the Hester Peirce-led task force may impact its response to Coinbase\u2019s appeal<\/a> and potentially resolve the underlying classification issue.<\/p>\n

The court document read:<\/p>\n

\n

The crypto task force\u2019s work may affect and could facilitate the potential resolution of both the underlying district court proceeding and potential appellate review, conserving judicial resources. Because the Commission\u2019s review of crypto-related issues is ongoing, the Commission requests this additional time to prepare its answer to Coinbase\u2019s petition and for appropriate review.<\/p>\n<\/blockquote>\n

The SEC noted that neither party will be prejudiced by the approval of the deadline extension. The regulatory agency also highlighted in its filing that Coinbase consents to the extension request, as the exchange\u2019s appeal is not expedited.<\/p>\n

A Shift In The Crypto Regulatory Landscape?<\/strong><\/h2>\n

Interestingly, this Coinbase trial is the second case within the same week where the SEC has asked for an extension. On Monday, February 11, the US financial regulator and the world\u2019s largest exchange Binance jointly filed for a 60-day stay<\/a> on their legal battle.<\/p>\n

The SEC cited a similar reason \u2014 as in the Coinbase lawsuit \u2014 behind the request to pause the Binance case for the next 60 days. According to the court document, the parties intend to submit a joint status report at the end of the 60-day stay period, deciding whether an extension of the stay is necessary.<\/p>\n

\"Coinbase\"<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On Friday, February 14th, the United States Securities and Exchange Commission requested a 28-day extension of its deadline to respond to Coinbase\u2019s appeal. This latest move represents an interesting development in the protracted legal battle between the regulatory agency and the US\u2019 largest crypto exchange. Why SEC Asked For A Deadline Extension In its latest […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-13330","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13330"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13330\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}