The price of Bitcoin hovered around $72,000 on Tuesday, extending a rally that has helped mint a new crop of crypto billionaires.
The cryptocurrency has climbed by more than 50 percent since the Securities and Exchange Commission approved the first Bitcoin exchange traded funds in January, bringing a wave of mainstream investors into crypto trading.
Coinbase, a Nasdaq-listed crypto exchange, has seen its stock surge alongside Bitcoin this year.
It said in its suit that the agency has shirked its responsibility to write clear rules on how the industry should operate.
A panel of judges agreed that the agency acted arbitrarily, a ruling that paved the way for the approval in January of new Bitcoin funds.
Organizations:
Securities and Exchange Commission, Nasdaq