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U.S. Judges Demand SEC 'Explain Itself' for Rebuffing Requests for Crypto Rules

Author: Content Editor
A U.S. court has ruled that the Securities and Exchange Commission (SEC) must explain its decision to refuse Coinbase's request for regulations on how cryptocurrencies should be assessed as securities. The court partially sided with Coinbase, stating that rather than forcing the agency to make a rule, it should clarify its position on crypto assets. The ruling called the SEC's actions "arbitrary and capricious" and leaves an opening for the agency's new leadership, including Chair Gary Gensler's replacement, to potentially change the direction of crypto oversight. However, the court did not find Coinbase's arguments compelling for new rules.

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