Coinbase Presses Fight for Regulatory Clarity at Appellate Court

Coinbase Inc. wants a federal appeals court to order the SEC to make specific rules for the $2 trillion cryptocurrency industry, arguing current regulations governing conventional securities just don’t fit.

The agency, maintaining its existing regs are just fine, denied Coinbase’s petition for a new slate of rules in December 2023.

The US Court of Appeals for the Third Circuit on Monday will hear from both sides on the merits of the cryptocurrency exchange’s contentions. But Coinbase’s quixotic effort may disappoint the company and its allies, legal observers say.

“I appreciate what Coinbase is trying to do, but it might ...