Coinbase faces short-term headwinds, but long-term growth potential remains strong as crypto assets become mainstream. See why I remain neutral on COIN stock.

Coinbase and the U.S. securities regulator faced off in a federal appeals court in Philadelphia on Monday as the cryptocurrency exchange presses the agency to create new rules for digital assets.

Coinbase and the U.S. Securities and Exchange Commission (SEC) clashed in a Philadelphia federal appeals court on Monday as the cryptocurrency exchange pushed the regulator to establish specific rules for digital assets.

The SEC’s reasons for denying a Coinbase Inc. petition for rules governing the cryptocurrency industry were “sparse” and “pretty close to vacuous,” a Third Circuit judge told an attorney for the agency at oral argument Monday.