The US Third Circuit Court of Appeals will on Monday hear Coinbase’s arguments against the Securities and Exchange’s (SEC) denial of its petition to propose new rules for cryptocurrency regulation.

According to a post on X platform by journalist Eleanor Terrett, all was set for the courts to hear Coinbase’s arguments.

Coinbase reportedly claimed that SEC acted “arbitrarily and capriciously” by denying the proposal to change the rules in December 2023, in what was one of the broader conflicts between the regulator and the digital asset industry.

The crypto exchange argued that the existing laws were inadequate to govern the booming crypto sector.

However, SEC chair Gary Gensler said then that: “Existing laws and regulations apply to the crypto securities markets.”

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