SEC Requests 28-Day Extension for Coinbase Appeal Response

The U.S. Securities and Exchange Commission (SEC) has requested a 28-day extension to respond to Coinbase's appeal, pushing the deadline to March 14, 2025. This request is part of an ongoing legal battle regarding the classification of digital assets as securities, which has implications for the broader crypto industry. The SEC's newly established crypto task force, led by Commissioner Hester Peirce, may influence the case's outcome, as it aims to develop a regulatory framework for digital assets. Coinbase has consented to the extension, demonstrating a cooperative approach amid the lengthy legal proceedings. This marks the second recent case in which the SEC has sought an extension, as it also filed for a 60-day stay in its lawsuit against Binance. The legal disputes highlight the ongoing challenges and regulatory uncertainties facing cryptocurrency exchanges in the U.S.