U.S. SEC: It is expected to take 4 months to respond to Coinbase's request for the formulation of digital asset trading rules

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) stated that it expects to take 120 days to respond to Coinbase's request for the establishment of digital asset trading rules. The SEC indicated that it has not yet decided what action to take regarding this request.

It is reported that Coinbase is seeking to establish clear rules aimed at replacing the existing applicable requirements. This request was made before the SEC filed a lawsuit against the company last week. On June 6, the court ordered the SEC to clarify its position on Coinbase's petition within seven days. In April of this year, Coinbase sued the SEC, requesting a response to its rulemaking request submitted in 2022. (The Block)