Catenaa, Monday, February 17, 2025 – The U.S. Securities and Exchange Commission (SEC) has requested a 28-day extension to review cryptocurrency exchange Coinbase’s appeal in their ongoing lawsuit, citing the role of its newly formed crypto task force.
In a February 14 court filing, the U.S. Securities and Exchange Commission argued that the task force’s findings “may affect and could facilitate” the resolution of the nearly two-year-long case.
Coinbase has agreed to the extension, moving the regulator’s deadline from February 14 to March 14.
The legal battle dates back to June 2023, when the U.S. Securities and Exchange Commission sued Coinbase for allegedly offering unregistered securities and failing to register as a broker or exchange. Coinbase maintains that transactions on its platform do not constitute securities and has sought judicial clarity on the matter. A federal judge recently granted Coinbase’s request for an interlocutory appeal and paused all case proceedings until the Second Circuit Court issues a ruling.
The U.S. Securities and Exchange Commission request comes amid a broader regulatory shift, with the agency also pausing its lawsuit against Binance for 60 days, citing similar reasons. The crypto task force, led by Commissioner Hester Peirce, has sparked speculation that long-running cases against major crypto firms could be heading toward resolution.
