Market
Which entity will take significant legal action against the SEC over crypto regulation by the end of 2025?
2
Resolution / Starting Odds
Coinbase • 25%
Ripple • 25%
Binance • 25%
Other • 25%
Public legal filings or announcements
Story
Third Circuit Calls SEC's Denial of Coinbase's 2022 Crypto Petition 'Arbitrary and Capricious'
Jan 13, 2025, 08:19 PM
Coinbase secured a partial victory against the U.S. Securities and Exchange Commission (SEC) as the U.S. Court of Appeals for the Third Circuit ordered the agency to provide a more thorough explanation for its denial of Coinbase's 2022 petition for crypto-specific rulemaking. The court ruled that the SEC's order was 'conclusory and insufficiently reasoned, and thus arbitrary and capricious,' violating the Administrative Procedures Act. Paul Grewal, Coinbase's Chief Legal Officer, announced the decision. While the court did not mandate the SEC to establish new rules, the decision rebukes the agency's regulation-by-enforcement approach and highlights concerns over the lack of clarity for crypto companies. This ruling marks the second time a federal appellate court has criticized the SEC's actions as 'arbitrary and capricious' in crypto-related cases.
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Similar markets
No action • 25%
Other • 25%
Fine • 25%
Sanctions • 25%
Binance • 25%
Coinbase • 25%
Kraken • 25%
Other • 25%
Unregistered securities • 25%
Misleading investors • 25%
Fraud charges • 25%
Other • 25%
Fines for money laundering • 25%
SEC charges • 25%
Other • 25%
CFTC charges • 25%
Increased collaboration with crypto companies • 25%
No significant change • 25%
Shift to rulemaking • 25%
Continued regulation-by-enforcement • 25%
Stricter regulations • 25%
Introduction of a digital dollar • 25%
Tax exemption for crypto • 25%
Other • 25%
No action • 25%
Fines or settlements • 25%
Criminal charges • 25%
Other regulatory actions • 25%
Significantly eased • 25%
Moderately eased • 25%
No change • 25%
Increased regulation • 25%
Anti-crypto • 25%
Neutral • 25%
Pro-crypto • 25%
Unclear • 25%
Some actions dropped • 25%
No actions dropped • 25%
Increased actions • 25%
Most actions dropped • 25%
No response • 25%
Settle with affected companies • 25%
Adopt new guidelines • 25%
Appeal rulings • 25%
Coinbase • 25%
Binance • 25%
Other • 25%
Kraken • 25%