PANews reported on February 12 that Fox Business reporter Eleanor Terrett tweeted that the U.S. Securities and Exchange Commission (SEC) needs to respond to Coinbase's interlocutory appeal request by February 14 to determine whether current securities laws apply to crypto asset transactions on the Coinbase platform.

Judge Failla has approved Coinbase's appeal, placing its lawsuit in a "suspended" state. SEC Acting Chairman Mark Uyeda needs to decide how to respond, and may adopt the following four strategies:

1. Oppose the appeal request and continue to uphold the position of former SEC Chairman Gary Gensler that "securities laws clearly apply to most crypto tokens";

2. No objection to the appeal request indicates that the SEC hopes to resolve the issue of the applicability of securities regulations to crypto assets as soon as possible;

3. Apply for an extension and postpone the response;

4. Withdraw the lawsuit and terminate the case directly.

The SEC’s decision may reveal its new attitude toward regulating crypto assets, especially as the Crypto Task Force, led by Hester Peirce, is re-examining the applicability of securities laws.