The US Securities and Stock Exchange Committee (SEC) asked the Federal Appeal Court to extend the deadline to respond to Coinbase, which submitted an appeal to the Federal Judge’s order last month.
According to the Foxbushing correspondent Eleanor TeretSEC requested a 28 -day extension (until March 14, 2025) to provide her answer to Coinbase to leave to make an ocean appeal. On Friday, the agency requested an extension to the deadline (currently February 14) to provide its response, noting a new SEC’s encryption squad, led by Commissioner Hyster Peres.
SEC indicated that the new encryption squad may affect the results of the appeal and the entire case: “The work of the encryption squad may affect and can facilitate the potential solution to each of the basic procedures for the local court, a possible appeal review, and the maintenance of the judiciary resources.”
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Coinbase agreed to the extension. In January, a local court granted Coinbase to obtain an ocean appeal, and the discovery was discovered in the case awaiting the results of this process. Last year, the provincial judge, Catherine Polk Villa, ruled that the Supreme Education Council had made a reasonable case that Coinbase sold unregistered securities on its platform. Then he sought to exchange encryption to the Court of Appeal to invest in how to apply securities laws to cryptocurrencies.
This is the second case in which the Supreme Education Council requested an extension; Earlier this week, SEC and Binance filed a 60 -day residence in the organizer’s lawsuit against the stock exchange and relevant parties, claiming that the extension could lead to a decision. The judge in charge of the case agreed to residency.
Coinbase reports in the fourth quarter report
In its last term report, Coinbase stated that revenues are more than weak and profits are more than expected during the Q4 increase in digital assets.
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Revenue increased to $ 2.27 billion in the fourth quarter, while net income rose to $ 1.29 billion, or $ 4.68 per share, which exceeds expectations.
Retail investors who previously remained outside Coinbase during the last stagnation in the market returned to the platform. Consumer transactions revenues amounted to $ 1.3 billion in the fourth quarter, an increase of 179 % in succession. Nearly half of the commercial users in the quarter were either new in Coinbase or have not been circulated for a while.
