Coinbase Challenges SEC Refusal to Issue Digital Asset Rules (2)

Coinbase Global Inc. is challenging the Securities and Exchange Commission’s refusal to create new rules around trading digital assets, deepening its feud with regulators.

Coinbase asked the US Court of Appeals for the Third Circuit on Friday to order the SEC to move forward with rulemaking. The petition was filed hours after the agency denied Coinbase’s request for rules clarifying the SEC’s standards for determining whether digital assets are securities.

Coinbase, which has been sued by the SEC and accused of illegally operating an unregistered securities exchange, says the denial of its request was arbitrary and capricious, and an abuse ...