SEC Asks Court docket for Coinbase Case Deadline Extension, Citing ‘Potential Decision’ Prospects

Attorneys for the U.S. Securities and Trade Fee hinted at a possible settlement with Coinbase in a late Friday court docket submitting, citing the regulator’s new crypto job drive.

The SEC requested a federal appeals court docket to increase its deadline to answer Coinbase, which filed an attraction of a federal decide’s ruling final month. District Decide Katherine Polk Failla dominated final 12 months that the SEC had introduced a believable case that Coinbase offered unregistered securities on its platform. The alternate requested the appeals court docket panel to weigh in on how securities legal guidelines would possibly apply to crypto.

On Friday, the company requested for a four-week extension to its deadline (at the moment set for Feb. 14) to file its response, citing Performing SEC Chair Mark Uyeda’s new crypto job drive, headed by Commissioner Hester Peirce.

“The crypto job drive’s work could have an effect on and will facilitate the potential decision of each the underlying district court docket continuing and potential appellate assessment, conserving judicial sources. As a result of the Fee’s assessment of crypto-related points is ongoing, the Fee requests this extra time to arrange its reply to Coinbase’s petition and for applicable assessment,” the submitting stated.

That is the second case the SEC requested for an extension in; earlier this week, the SEC and Binance filed for a 60-day keep within the regulator’s case in opposition to that alternate and affiliated events, saying the extension might equally result in a decision. The decide overseeing that case granted the keep.