Coinbase Wins Partial Court Victory Against SEC
- The US Court of Appeals for the Third Circuit ruled in favor of Coinbase on January 13.
- The court found the SEC’s reasoning “arbitrary and capricious” under the Administrative Procedure Act.
- Coinbase had petitioned the SEC in 2022 for new crypto-specific rules, which was denied in December 2023.
- The court criticized the SEC for not providing clear guidance on crypto compliance.
- Key figures involved include Circuit Judge Ambro and Coinbase’s chief legal officer, Paul Grewal.
In a partial victory for Coinbase, the Third Circuit Court criticized the SEC’s lack of clear crypto regulations, requiring them to provide a more thorough explanation for their actions.
