Coinbase asked the US Securities and Exchange Commission (SEC) to define more about how the country’s securities rules apply to cryptocurrencies.
The regulatory watchdog claims that the exchange’s demand is unreasonable and unsupported.
The largest cryptocurrency exchange in the US, Coinbase, filed a petition in federal court last month seeking legal redress against the Securities and Exchange Commission (SEC).
In the petition, the SEC was urged to provide clearer regulations and standards for the cryptocurrency industry.
In a court filing in response to Coinbase’s appeal, the SEC refuted the exchange’s claims that the organization had been overly sluggish to act.