SEC Says It May Make a Recommendation on Crypto Exchange Coinbase Petition Within 4 Months

The U.S. Securities and Exchange Commission (SEC) hasn’t made a decision on whether it will respond to Coinbase’s (COIN) petition for rulemaking and its enforcement action against the crypto trading platform isn’t inconsistent with any decision on rulemaking, the regulator said Tuesday.

The SEC responded to a court order on how it was currently looking at the rulemaking petition in light of the agency’s enforcement action against Coinbase, which the regulator sued last Tuesday on allegations it was operating an unregistered securities exchange, broker and clearing agency.

Though Coinbase has argued that the SEC has decided to reject the petition, the SEC said Tuesday that it hadn’t made a decision one way or another, though agency staff think they will make a recommendation within 120 days.

Source: SEC Says It May Make a Recommendation on Crypto Exchange Coinbase Petition Within 4 Months