Coinbase Chief Legal Officer paulgrewal.eth posted on X platform that Coinbase had just won a petition for a writ of mandamus in the Third Circuit Court. The court dismissed the U.S. Securities and Exchange Commission's (SEC) order dismissing its rule-making petition, which means that the SEC must reconsider Coinbase's request and provide more adequate reasons to explain why they refuse to make clear rules about cryptocurrencies. The judge believed that "the SEC's order was conclusive and insufficiently justified, and therefore arbitrary and capricious. We partially approve Coinbase's petition and send it back to the SEC for a more comprehensive explanation."