Coinbase Fails to Secure Crypto-Specific Regulations from SEC

In a significant development for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has formally rejected a petition from Coinbase, a leading cryptocurrency exchange. The petition, aimed at encouraging the SEC to establish a system of rules specifically tailored for digital assets, was turned down on Friday, with the SEC affirming its stance on the applicability of existing securities laws to the crypto sector.