The SEC's cryptocurrency working group requests a 28-day extension to respond to Coinbase's appeal

ChainCatcher News, the U.S. SEC has requested to extend the deadline for responses to the appeal against Coinbase from February 14 to March 14, with February 14 being the agency's original response deadline. The legal dispute between Coinbase and the SEC centers on "whether digital assets should be classified as securities or whether they represent a new type of financial instrument."

In the latest court filings, the SEC stated that the work of the cryptocurrency working group may impact and facilitate the resolution of potential district court litigation and potential appellate review, thereby saving judicial resources. This newly established working group is organized by SEC Acting Chair Mark Uyeda and led by Commissioner Hester Peirce.