Coinbase is leveraging a recent ruling in the SEC v Binance case to challenge the SEC's approach to cryptocurrency regulation. The exchange has accused the SEC of inconsistent rule-making and a lack of transparency in its regulatory process. In a lawsuit filed against the SEC and the Federal Deposit Trust Corporation, Coinbase alleges that both agencies have conspired to exclude the crypto industry from the banking sector. The lawsuit also criticizes the agencies for failing to provide necessary documentation regarding their rule-making deliberations about Ethereum's transition to a staking-based digital asset ecosystem.