Coinbase Chief Legal Officer: The court will retain Coinbase's challenge to the U.S. SEC's jurisdiction

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal tweeted that the Third Circuit Court has just ruled that it will uphold Coinbase's challenge to the U.S. Securities and Exchange Commission (SEC) regarding the jurisdiction over Coinbase's petition on the fundamental rules of cryptocurrency. The next report will be submitted within 120 days.

Previous news, after a long period of silence and vague responses from the SEC regarding Coinbase's petition, Coinbase formally requested a federal judge to compel the SEC to establish clearer rules and standards for the digital asset industry (source link)