Coinbase's legal battle for regulatory clarity in the cryptocurrency world has taken a new turn as the Third Circuit finally responded to their complaint against the SEC. The case dates back to July when Coinbase filed a petition for rulemaking with the SEC, but received no response.

The lack of clarity forced Coinbase to take the matter to federal court eight months later to force the SEC to respond. Coinbase's Chief Legal Officer, Paul Grewal, recently announced that the court has ordered the SEC to respond to Coinbase's writ of mandamus within 10 days.

While Coinbase is thankful for the court's consideration of the matter, the focus now shifts to whether the SEC will comply with the required order. The lawsuit aims to compel the regulator to publicly disclose its stance on a petition submitted by Coinbase in April, which called for transparency in the adoption of rules governing the trading and offering of securities using digital methods.