SEC Response to Court Order “Borderline Disrespectful”: Analyst
A lawyer on Twitter sharply criticized the SEC’s response to the Third Circuit. The lawyer asserted that the filing was disrespectful as it didn’t provide an answer to the Court’s questions. Coinbase CLO Paul Grewal alleged that the regulators had no intent to create new crypto rules. James Murphy, a vocal lawyer known on Twitter as MetaLawMan, recently commented on the Securities and Exchange Commission’s (SEC) response to last week’s Third Circuit. According to Murphy, the SEC’s response was “b order line disrespectful to the Court” as the commission re-argued on the denial of the issuance of the mandamus petition. In April of this year, Coinbase filed a narrow action for a writ of mandamus, asking the SEC to respond to its longstanding petition for regulatory clarity.The SEC did not respond, and subsequently sued Coinbase on June 6 for allegedly violating security laws. The same day, the Third Circuit Court order ed the regulatory body to provide a clear e...