The US SEC requests a 28 day extension of Coinbase's appeal

According to The Block, the US Securities and Exchange Commission has requested a 28 day extension of Coinbase's appeal, as part of a long-standing legal dispute between the agency and cryptocurrency exchanges over how to classify digital assets. The SEC has requested an extension of the deadline from February 14th to March 14th, which was the agency's initial response deadline. The legal dispute between Coinbase and the SEC focuses on whether digital assets should be classified as securities or whether they represent a new type of financial instrument. In the latest court documents, the SEC stated that the establishment of its new encryption working group will affect its response and potential classification issues at present. The SEC filing continues: "Neither party will be harmed by the application for an extension. This is not an expedited appeal, and Coinbase agrees to this motion