Attorneys for the US Securities and Exchange Commission hinted at a potential settlement with coinbase in a late Friday law lodging of the Court, citing the regulator’s new crypto -tag force.
SEC asked a federal appeal court to extend its time limit to respond to Coinbase, which filed an appeal of a federal judge’s decision last month. District Judge Katherine Polk Failla gave up last year that SEC had brought a plausible case that Coinbase sold unregistered securities on her platform. The exchange asked the appeal court panel to weigh on how securities laws can apply to crypto.
On Friday, the agency asked for a four-week extension until its time limit (currently set for February 14) to submit his reply, referring to acting SEC chairman Mark Uyeda’s new crypto-task force, led by Commissioner Hester Peirce.
“Crypto Task Force’s work can affect and can facilitate the potential solution of both the underlying court procedure and potential appeals that retain legal resources. Because the Commission’s review of crypto-related questions is going on, the Commission requests this extra time to prepare its response to Coinbases petition And for appropriate review, “the archiving said.
This is the second case that SEC asked for an extension in; Earlier this week, SEC and Binance filed a 60-day stay in the controller’s case against this exchange and affiliated parties and said the expansion could similarly lead to a decision. The judge monitored the case awarded the stay.