The United States Third Circuit Court of Appeals has ruled in favor of Coinbase in its lawsuit against the SEC, criticizing the SEC for not being transparent in addressing Coinbase's request for crypto-specific regulations. The court ruled that the SEC's denial of Coinbase's petition lacked sufficient justification and ordered the SEC to clarify its decision. Ripple's Chief Legal Officer praised the ruling and criticized the SEC's selective enforcement practices. The ruling is expected to impact ongoing and future crypto-related lawsuits and reinforce calls for comprehensive regulatory frameworks. Meanwhile, Ripple CEO Brad Garlinghouse has criticized outgoing SEC Chair Gary Gensler, and the SEC is preparing to file its opening brief in its appeal of Ripple's legal victory. Gensler's enforcement-focused approach has drawn criticism, and industry observers anticipate changes with the arrival of new SEC Chair Paul Atkins.



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