Coinbase is pushing back against the U.S. Securities and Exchange Commission's (SEC) refusal to create new regulations for the digital asset industry. On Monday, Coinbase's lawyers appealed to the Third Circuit Court of Appeals to reverse the SEC's decision and to order the agency to start developing rules. Coinbase accuses the SEC of trying to control the growing digital asset sector through enforcement rather than by setting clear regulations. The exchange claims the SEC unfairly denied its June 2022 request for rulemaking, leaving companies in a difficult situation.