The U.S. Securities and Exchange Commission (SEC) wants more time. It asked for 28 extra days to answer Coinbase’s appeal. The case has been ongoing for 20 months. The SEC says its new crypto task force might help resolve it.
Coinbase filed its appeal on Jan. 17. The company wants permission to challenge a court decision from March 2024. That decision had both approved and denied parts of Coinbase’s request to dismiss the case. The SEC’s response was due on Feb. 14. Now, it wants to reply by March 14.
On Jan. 21, the SEC launched a new crypto task force. Acting Chairman Mark Uyeda announced the team. The goal is to create clear regulations for crypto. The SEC says this task force could help end the legal fight with Coinbase. It might also guide future crypto policies.
SEC’s decision could shape the future of Crypto
The court already gave the SEC a 14-day extension in January. Now, the agency says it needs more time. It argues that ongoing crypto discussions could impact its response. The SEC also claims that resolving issues now could save court time later. Coinbase agrees with the extension request.
This is not a fast-track appeal. The SEC insists no one is harmed by the delay. It wants to ensure its answer is well-prepared. The agency also says it needs internal approval before submitting its response. The court will decide whether to grant the extra time.
The crypto industry is watching closely. Many see this case as a turning point. The outcome could shape crypto regulation in the U.S. The SEC’s new task force suggests a shift in approach. Instead of just lawsuits, the agency may seek clearer rules. Coinbase has long argued for fair regulations. It believes crypto companies need legal clarity.
If the SEC’s task force helps resolve the case, it would be a major change. It could mean fewer legal battles and more structured guidelines. For now, the wait continues. The court’s decision on the SEC’s extension request will be the next key update. Crypto supporters hope for progress, not just delays.
