Coinbase (COIN) Price Shoots Pre-Market Amid Uncertain Regulatory Battle

Crypto News: Coinbase Global Inc (NASDAQ: COIN) took the battle against U.S. Securities and Exchange Commission’s (SEC) unclear crypto regulations to the court. Coinbase’s this move somehow invited turbulence in the market. However, the forced legal battle to gain regulatory clarity is coming out positive for the U.S. biggest crypto exchange.

Also Read: Coinbase Launches “Stand With Crypto” NFT After Going Against SEC

Coinbase Price Jumps Amid Legal Battle

Coinbase Global Inc (NASDAQ: COIN) price registered a surprising surge of over 4% in the pre-market. COIN price saw a jump of 2.08 points before the market opens. This implies that the investors are positive about the recent action taken by the exchange. COIN price closed trading at $55.55 yesterday.

It is important to note that Coinbase (COIN) share prices have been on a decline over the past 6 months. NASDAQ: COIN price is down by almost 25%, while, it has registered a drop of 11% in the last 1 month. In the last 5 days, its price saw a drop of around 13%. Read More Crypto News Here…

Also Read: XRP Holders And Ripple Face-Off In Court Today; What To Expect?

COIN pre market surge comes after the U.S. biggest crypto exchange went on to request the court to ask SEC to provide clear crypto rules. The exchange filed a petition for rulemaking with the commission in 2022. It sought answers to around 50 specific questions in order to provide “clarity and certainty” for regulatory treatment of crypto assets.