Coinbase crypto trading board Continuing its legal battle with the US Securities and Exchange Commission (SEC) and calling on the court to order the agency to begin the process of enacting regulations for the crypto industry that should be in place. 

Yesterday (March 11), at the Court of Appeals, Coinbase claimed that the SEC violated the Administrative Procedure Act (APA) when it rejected Coinbase's July 2022 request to the SEC. Legislation to regulate crypto without giving sufficient reason

Gary Gensler, chairman of the US SEC, said that current securities laws are applicable to the crypto industry. However, Coinbase stated that this reasoning is not sound. And there needs to be a clearer reason for refusing.

Coinbase claims the SEC's denial is arbitrary. This is because the agency cannot explain how securities laws apply to crypto. At the same time, the said law is strictly enforced. By suing several crypto companies for violating securities laws

Therefore, Coinbase is asking the court to accept the request for consideration. along with wanting the court to cancel the refusal and ordered the US SEC to begin the process of enacting new laws.