Coinbase Pushes for Crypto Rules Amid ‘Oppressive’ SEC Actions

Coinbase Global Inc. took its opening swing in an effort to force the Securities and Exchange Commission to write new rules around trading digital assets, telling a federal court the agency refuses to create a workable framework for the $2 trillion industry.

Coinbase brought a case against the SEC at the US Court of Appeals for the Third Circuit after the agency in December denied the exchange’s request for rules clarifying legal standards for determining whether digital assets are securities.

In a brief filed Monday, Coinbase argued the SEC’s refusal to make crypto rules violates the Administrative Procedure Act. The ...