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What will be the SEC's next significant regulatory action on cryptocurrency by the end of 2025?
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Resolution / Starting Odds
New crypto-specific rules • 25%
Increased enforcement actions • 25%
Clarification of existing rules • 25%
No significant actions • 25%
Official SEC announcements or legal filings
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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Increased regulations • 25%
No significant change • 25%
Other • 25%
Decreased regulations • 25%
Moderately eased • 25%
Increased regulation • 25%
No change • 25%
Significantly eased • 25%
Anti-crypto • 25%
Neutral • 25%
Unclear • 25%
Pro-crypto • 25%
Minor adjustments to existing policies • 25%
Other • 25%
No significant changes • 25%
Full policy overhaul with new guidelines • 25%
No action • 25%
Criminal charges • 25%
Other regulatory actions • 25%
Fines or settlements • 25%
Increased collaboration with crypto companies • 25%
No significant change • 25%
Shift to rulemaking • 25%
Continued regulation-by-enforcement • 25%
Adopt new guidelines • 25%
No response • 25%
Appeal rulings • 25%
Settle with affected companies • 25%
Token classification • 25%
Enforcement actions • 25%
Accounting standards • 25%
Other • 25%