Monness Crespi notes that the SEC’s lawyers filed a motion on Friday to extend the response window to Coinbase (COIN), which consented to the delay, by four weeks to March 14 in the SEC’s ongoing case against Coinbase for running an unregistered exchange, broker, and clearing operation. The Coinbase docket news, along with a 60-day stay filed for a similar Binance case in the U.S., lead the firm to believe that “some kind of interim framework or regulatory policy is in the works,” says the analyst, who has a Buy rating and $420 price target on Coinbase shares.
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