A federal appeals court says the U.S. Securities and Exchange Commission needs to better explain why it turned down a request from Coinbase to develop regulations to cover the booming crypto asset sector — although the judges stopped short of reversing the agency's decision.

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,

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

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.

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.