Court puts hold on SEC v. Coinbase order while appeal is pending
A court has decided to postpone the enforcement of a subpoena that was issued by the SEC against Coinbase. The crypto exchange is currently in the process of appealing the order. This latest development comes as tensions between the SEC and the crypto industry continue to escalate.
The SEC had initially requested customer records from Coinbase in relation to an investigation it was conducting. The exchange complied with the request but sought legal recourse to challenge the subpoena. Coinbase argued that the SEC was overstepping its bounds and the subpoena was unnecessarily broad.
The courts decision to stay the order gives Coinbase some temporary relief as it prepares to present its case on appeal. The outcome of this legal battle could have far-reaching implications for the crypto industry as a whole.
Both the SEC and Coinbase are closely monitoring the situation as it unfolds. The outcome of this case could potentially set a precedent for future interactions between regulatory bodies and crypto exchanges. The crypto community is watching closely to see how this situation will play out.
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Text source: Crypto Breaking News
