The United States Court of Appeals for the Third Circuit has ruled in favor of Coinbase in its legal battle with the Securities and Exchange Commission (SEC). The court criticized the SEC's denial of Coinbase's petition for crypto-specific regulations in 2023, calling it "arbitrary and capricious." The ruling requires the SEC to provide a detailed explanation for its decision. The judges' comments align with the increasing demand for clearer regulatory frameworks in the cryptocurrency industry. Judge Stephanos Bibas expressed concerns about the SEC's approach to crypto regulation, highlighting the lack of clear standards and its potential impact on the industry. Stuart Alderoty, Chief Legal Officer at Ripple, praised Coinbase's legal victory and criticized the SEC's selective enforcement practices. This ruling is seen as a crucial moment for the crypto industry and highlights growing frustration with the SEC's policies.



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