**Crypto Courtroom Drama: SEC vs. Coinbase**
- The U.S. Court of Appeals for the Third Circuit grilled the SEC over its denial of Coinbase's request for crypto rulemaking, calling the reasoning "pretty darn close to vacuous." đ§
- Coinbase sought clarity on which crypto assets are securities, but the SEC's two-page denial left them wanting more.
- Judges questioned how crypto firms can comply with vague rules, while the SEC defended its stance citing other priorities.
- Coinbase's legal team argued the SEC's actions are arbitrary, highlighting the need for clear guidance in the crypto space.
Source: Paul Grewal
