SEC Postpones Coinbase Appeal Response Citing New Crypto Task Force
The U.S. Securities and Exchange Commission (SEC) has asked for another 28 days to reply to Coinbase’s request for a special appeal, pushing the new deadline to March 14, 2025.
The SEC mentioned its recently created Crypto Task Force as something that could change how the case plays out. This delay might mean the agency is changing its regulatory game plan, possibly rethinking how it deals with cryptocurrency rules.
Related: SEC Faces Coinbase Appeal Deadline as Trump Eyes New CFTC Chair
Judge Failla had previously given Coinbase permission to file this special appeal. This allows the exchange to challenge whether current securities laws should even apply to digital assets. The SEC was supposed to respond by February 14, 2025.
However, the agency now wants more time, referencing the ongoing work of the Crypto Task Force. Coinbase has agreed to the delay, so the case will remain on hold for now.
This type of appeal lets a court review a decision while the rest of the case is still going on. By taking more time to respond, the SEC may be playing it safe. They might be waiting for direction from the task force before making a final decision on their next move.
Related: Coinbase, Ripple CEOs Gain Profits With Pro-Crypto Election Victory
The SEC’s legal fight with Binance has also been temporarily stopped. On February 10, 2025, both sides jointly asked for a 60-day pause , also citing the Crypto Task Force’s potential influence on regulatory decisions. This suggests a wider rethink of how the SEC will enforce regulations across the crypto industry.
Experts had thought that other companies, like Ripple and Kraken, might also ask for delays. They would want their cases to align with the SEC’s evolving position. This regulatory shift could mean that major exchanges might get some breathing room from legal pressure while the SEC works out its new strategy.
Regulatory developments have coincided with a leadership shakeup at the SEC. Hours before President Trump’s inauguration, Gary Gensler stepped down as SEC chairman, paving the way for pro-crypto attorney Mark Uyeda to assume the role of acting chair.
Under Uyeda, the SEC created the Crypto Task Force to provide clearer rules on how federal securities laws should be used for digital assets.
The task force, led by SEC Commissioner Hester Peirce, is expected to guide the agency’s regulatory approach going forward. This could lead to a more defined and organized system for overseeing the crypto industry. It may also affect current and future enforcement actions.
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Everstake CEO Sergey Vasylchuk on Staking, Institutional Trust, and the Future of Blockchain Governance
Everstake’s journey began as an experimental project while Vasylchuk was building a cryptocurrency exchange. As a software developer with a background in payments and banking, he was focused on making blockchain technology faster and more practical for financial institutions. However, the limitations of early proof-of-work networks, including slow transaction speeds, led him to explore proof-of-stake (PoS) solutions.
“When I first saw EOS, it was mind-blowing—transactions in under two seconds. That’s when I realized we were getting closer to the speed financial systems require,” Vasylchuk explained. His team became deeply involved in optimizing blockchain performance, and developing techniques to improve network efficiency. The success of these innovations led Everstake to emerge as a validator for multiple blockchains, evolving into a full-scale infrastructure provider for over 80 blockchain projects today.
Everstake’s role goes beyond staking; it acts as a crucial infrastructure layer for blockchains, bridges, and decentralized applications. “We’re not just validators. We support blockchain ecosystems, ensure security, and help new networks scale,” Vasylchuk emphasized.
With staking becoming a mainstream feature in crypto, validators face increasing operational and security challenges. Managing thousands of keys and servers requires rigorous risk management processes to prevent costly mistakes. Vasylchuk noted that Everstake maintains an uptime of nearly 99.9%, a testament to its dedication to reliability.
“The biggest challenge isn’t running existing blockchains, it’s onboarding new testnets. New networks come with design flaws and bugs, and choosing the right emerging blockchain to support requires careful technical evaluation,” he said.
To strengthen institutional confidence, Everstake recently secured SOC 2 Type 1 certification, a widely recognized security standard. While retail stakers trust the company based on its long-standing reputation, institutional investors require additional verification. “For many institutions, it’s not about whether they trust us, it’s a requirement. Without the certification, they simply cannot work with us,” Vasylchuk explained.
Ethereum has seen a steady 4% increase in staked ETH over the past year, signaling long-term confidence in PoS networks. Vasylchuk believes this growth will continue, drawing comparisons to Solana, where over 65% of tokens are staked.
“Ethereum staking is still relatively low at 27%, meaning there’s significant room for growth. Looking at networks like Solana, we expect Ethereum’s staking percentage to increase substantially,” he noted.
Beyond Ethereum and Solana, Vasylchuk sees potential in newer staking ecosystems but believes long-term success depends on strong governance models. “Staking isn’t just about earning rewards, it’s about governance. When you stake, you’re delegating your voting power. Unfortunately, many users prioritize APR over choosing responsible validators,” he cautioned.
As a major validator across multiple networks, Everstake plays a key role in governance decisions. However, Vasylchuk dismissed concerns that large validators pose a centralization risk. “Despite being one of the biggest, our stake in Solana is only 1.4%, in Sui, it’s 1.3%. That’s far from centralization,” he clarified.
Instead, he pointed to centralized exchanges as a greater threat to blockchain governance. “Exchanges control staked funds but don’t allow users to participate in governance. This weakens decentralization and gives them disproportionate influence over networks,” he warned.
With governments increasingly focused on cryptocurrency regulation, staking is coming under greater scrutiny. Vasylchuk believes regulators still lack a deep understanding of staking, often misinterpreting it as a purely financial instrument rather than a governance mechanism.
“When we explain staking as a voting process, regulators get confused. They want to regulate it, but they don’t know how,” he said. However, he remains optimistic that clearer regulations under the new U.S. administration could create pathways for institutions to fully embrace staking.
“If institutions gain regulatory clarity, we could see staking ETFs or publicly traded staking companies emerge, unlocking massive new investment streams,” Vasylchuk predicted.
Despite regulatory uncertainties, Vasylchuk believes 2025 will be a strong year for staking, driven by a bullish market, institutional entry, and greater regulatory clarity. However, the full potential of staking will only be realized once traditional financial institutions can access it through regulated investment vehicles.
“A staking ETF would be a game-changer. It’s not a matter of if, it’s when. With proper risk management and regulation, staking could become a multi-trillion-dollar market,” he concluded.
As Everstake continues to expand its role in blockchain governance and security, Vasylchuk remains committed to bridging the gap between crypto and traditional finance. His dual mission of optimizing blockchain infrastructure while educating regulators positions Everstake as a pivotal player in the future of decentralized finance.
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