-
Commr. Hester Peirce statement on dismissal of SEC action v. Coinbase
Read more: Commr. Hester Peirce statement on dismissal of SEC action v. CoinbaseGetting Back on Base: Statement of Commissioner Hester M. Peirce on the Dismissal of the Civil Enforcement Action Against Coinbase Commissioner Hester M. Peirce Feb. 27, 2025 Today the Commission settled its case against Coinbase by dismissing it with prejudice. I did not support the action against Coinbase. Among other things, I was concerned that…
-
Judge Bibas retells history of Securities Act of 1933 and Satoshi Nakomoto’s invention of Bitcoin–and how the SEC is at fault–in Coinbase v. SEC concurrence
Read more: Judge Bibas retells history of Securities Act of 1933 and Satoshi Nakomoto’s invention of Bitcoin–and how the SEC is at fault–in Coinbase v. SEC concurrenceIn his concurrence in Coinbase v. SEC, Judge Stephanos Bibas masterfully recounts, with literary flair, the history of the Securities Act of 1933 and the Securities Act of 1934 in showing how the regulatory framework they established in the first half of the 20th century are a poor fit to Bitcoin and the various cryptocurrencies…
-
3rd Circuit decision in Coinbase v. SEC (PDF): SEC acted arbitrary and capriciously in failing to explain adequately denial of Coinbase’s petition for rulemaking on cryptocurrency
Read more: 3rd Circuit decision in Coinbase v. SEC (PDF): SEC acted arbitrary and capriciously in failing to explain adequately denial of Coinbase’s petition for rulemaking on cryptocurrencyIn a major decision, in Coinbase v. SEC, the Third Circuit Court of Appeals ruled that the SEC violated the Administrative Procedures Act, and acted arbitrarily and capriciously, in failing to adequately explain the reasons for denying Coinbase’s petition for rulemaking on the SEC’s approach to crypotocurrency. Coinbase had petitioned the SEC to “promulgate rules…