The U.S. Securities and Exchange Commission must explain why it denied Coinbase's petition for specific rules for crypto, the U.S. Court of Appeals for the Third Circuit said in an opinion posted on Monday. The court called the SEC's decision to ignore this request for crypto-specific rulemaking as "arbitrary and capricious."

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US court orders SEC to explain why it denied Coinbase's request for crypto-specific rules

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In January 2025, the U.S. Court of Appeals partially granted Coinbase's petition ordering the SEC to provide a more detailed explanation for its denial for Coinbase petition to create new rules for the crypto industry

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The U.S. Court of Appeals ruled that SEC's denial of Coinbase's petition for clearer cryptocurrency regulations was not properly argued

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In January 2025, the U.S. Court of Appeals partially granted Coinbase's petition ordering the SEC to provide a more detailed explanation for its denial for Coinbase petition to create new rules for the crypto industry

The U.S. Court of Appeals ruled that SEC's denial of Coinbase's petition for clearer cryptocurrency regulations was not properly argued