The crypto exchange Coinbase has asked a federal judge to order the U.S. Securities and Exchange Commission to respond to a petition it filed last year, asking for formal rules in the digital asset sector.

Coinbase challenged the SEC under the Administrative Procedure Act on Monday. The exchange requested that the Third Circuit Court of Appeals order the SEC provide “regulatory clarification” about how existing securities laws could apply to the digital assets sector.

Read more: SEC warns Coinbase it’s pursuing enforcement action over securities violations

Last month, the SEC informed Coinbase that it would sue them for allegedly listing and offering securities products not registered. Coinbase will respond to specific allegations before the end of April.

Coinbase’s Monday filing is, however, a preemptive action to argue that SEC’s approach does not provide enough regulatory guidance for U.S. firms operating in the cryptocurrency sector.

It is well known – and even a SEC commissioner who currently serves – that current SEC disclosure and registration requirements are incompatible for digital assets. These digital assets differ fundamentally from stocks, bonds, and investment contracts, for which securities laws were originally designed, and which the SEC has traditionally regulated. At a minimum, the SEC must explain how these inapt and inappropriate requirements will be adapted to digital asset. The SEC, however, has refused to even do that,” according to the filing.

Read more: Coinbase could leave the U.S. in case of regulatory uncertainty: CEO Brian Armstrong

Aoyon A. Ashraf is the editor.