3rd Circuit: SEC Must Explain Denial Of Crypto Company’s Petition For Rulemaking

( January 22, 2025, 3:28 PM EST) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals agreed with a digital asset trading platform that the Security and Exchange Commission’s order denying the platform’s request for rulemaking was conclusory and insufficiently reasoned and remanded the petition to the SEC for a more complete explanation but denied the platform’s request to order the SEC to institute rulemaking proceedings....

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