U.S. Securities and Exchange Commission lawyers cited the regulator's new cryptographic task force, suggesting a potential settlement with Coinbase in a court filing later Friday.
The SEC has asked the federal court of appeals to extend the deadline for responding to Coinbase, which filed an appeal for the federal judge's decision last month. District Judge Katherine Polk Faira ruled last year that the SEC led to a plausible case of Coinbase selling unregistered securities on the platform. The exchange asked the Court of Appeals panel to consider how the securities law applies to crypto.
On Friday, the agency cites the new Cryptocratchair Mark Weda's new Cryptody Task Force, led by Commissioner Hester Perth, to submit its response (currently set for February 14th). I asked for a 4-week extension.
“The work of the Cryptography Task Force may facilitate potential resolution of both underlying district court litigation and potential appeal reviews, and may store judicial resources. Commission's Cryptography As review of related issues is ongoing, the committee will request this additional time to prepare this additional time. For its answer to the Coinbase petition and appropriate review,” the filing states. I stated.
This is the second case the SEC has asked for an extension. Earlier this week, the SEC and Binance filed a 60-day stay in the exchange and regulatory lawsuit against the related parties, saying it could lead to a resolution as well. The judge overseeing the case granted his stay.
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