U.S. SEC: Coinbase has no right to require government agencies to perform certain duties

ChainCatcher news, according to Blockworks, the U.S. Securities and Exchange Commission (SEC) responded to Coinbase's previous complaint, stating that Coinbase has no right to compel government agencies to fulfill certain duties. "Perhaps realizing this, Coinbase instead claims that the court should force the SEC to act on the rulemaking petition recently submitted by Coinbase, but there are no laws or regulations requiring the SEC to take such action within a specific timeframe."

Previously reported, Coinbase sued the SEC, demanding a response regarding specific rules for digital assets; on May 4, the court ordered the SEC to respond to the cryptocurrency rule petition submitted by Coinbase within 10 days. (source link)