A court ordered the United States Securities and Exchange Commission (SEC) to explain why it denied Coinbase’s petition for crypto-specific rules.

A federal appellate court on Monday ordered the Securities and Exchange Commission to revisit its decision not to write new rules for when digital assets fall under its authority. Why it matters: The The 3rd Circuit Court of Appeals firmly rebuked the agency,

Third Circuit Court demands SEC justify rejection of Coinbase's crypto regulation petition, marking a pivotal moment in the regulatory battle.

In another 11th-hour court loss for Chair Gary Gensler's tenure, judges in a Coinbase case again call the SEC's crypto position "arbitrary and capricious."

The SEC provided insufficient justification for rejecting Coinbase Inc.‘s request for rules specific to the cryptocurrency industry, the Third Circuit said Monday.

Roughly a year after Coinbase filed an appeal over the SEC’s denial to create rules on digital assets for industry players, the Third Circuit granted the exchange a partial win.

Coinbase triumphs in a pivotal legal battle with the SEC. The court grants a writ of mandamus in favor of Coinbase’s 2022 petition. SEC’s denial

The U.S. Securities and Exchange Commission (SEC) has been put on blast by a federal appeals court, which has demanded the agency justify its decision to block Coinbase’s 2022 petition for clear crypto regulations.