Loading...
Market
Will the SEC appeal the Third Circuit's decision on Coinbase's petition by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Court records or public announcements from the SEC
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.
View original story
Similar markets
Deny petition without significant changes • 25%
No decision by deadline • 25%
Deny petition with revised explanation • 25%
Approve petition • 25%
No • 50%
Yes • 50%
Explanation leads to modification of existing rules • 25%
Explanation leads to new rulemaking • 25%
No explanation provided • 25%
Explanation provided with no further action • 25%
No • 50%
Yes • 50%
Mixed ruling • 34%
In favor of SEC • 33%
In favor of Coinbase • 33%
In favor of SEC • 25%
Dismissed • 25%
In favor of Coinbase • 25%
Settled before ruling • 25%
No • 50%
Yes • 50%
SEC wins • 25%
Dropped • 25%
Settled • 25%
Coinbase wins • 25%