Opinion: The SEC needs to respond to Coinbase's appeal request this week, which may reveal a new stance on cryptocurrency regulation

ChainCatcher news, Fox Business reporter Eleanor Terrett revealed that the SEC will respond to Coinbase's appeal request on February 14. Previously, Judge Failla had approved Coinbase's request for an interlocutory appeal regarding whether the existing securities laws apply to its platform's digital assets.

The SEC currently faces four options: first, oppose the appeal request, maintaining the stance from the Gensler era that securities laws clearly apply to most crypto tokens, despite the current acting chair Uyeda and Commissioner Peirce both stating that the law in this area is not clear; second, not oppose the appeal, indicating a willingness to address the applicability of securities laws through a crypto working group; third, request an extension; fourth, choose to withdraw the lawsuit.

The SEC's decision will serve as an important indicator of its stance on crypto regulation under the new leadership.