The SEC refused Coinbase Global’s request for new digital asset sector guidelines, which the exchange challenged in court.

The panel voted 3-2 against proposing new rules, disagreeing with Coinbase’s claim that current crypto restrictions are “unworkable.” Coinbase filed a court petition to review the SEC’s judgment, which is the latest in a ongoing battle between the crypto sector and the top US markets regulator.

Coinbase has accused the SEC of declaring most crypto tokens as securities and suing Coinbase and others for listing and trading crypto tokens that should be securities.

Coinbase plans to appeal the SEC’s decision, calling it “arbitrary and capricious” and a “abuse of discretion.”