- Coinbase Fights SEC Lawsuit
- Coinbase filed for dismissal, saying the SEC’s calls for exceeded the authorized restrict.
- Coinbase’s Chief Authorized Officer emphasizes Coinbase’s dedication to dialogue.
Coinbase, one of many main cryptocurrency exchanges in the USA, has launched a powerful counterattack towards the US Securities and Trade Fee (SEC) by submitting a response and see of intent to file a movement to dismiss the SEC’s case.
Coinbase’s chief authorized officer, Paul Grewal, tweeted the corporate’s perception that the claims within the SEC lawsuit exceed present regulation and ought to be dismissed.
Grewal’s tweet conveyed Coinbase’s dedication to dialogue with regulators, together with the SEC. She emphasised her perception that new laws and rulemaking are acceptable to manage the business.
Notably, this latest submitting comes simply two weeks after Coinbase filed a lawsuit looking for damages in court docket, as reported by Coin Version.
Nevertheless, Coinbase has been adamant that the claims towards them on this explicit case transcend the present authorized framework, and the cryptocurrency neighborhood is commenting on the matter.
Brad Nickel, a outstanding cryptocurrency influencer, praised Coinbase’s layoff request. Nickel admired the readability and eloquence of the authorized arguments introduced in Coinbase’s response, suggesting that even these unfamiliar with the authorized paperwork may simply perceive their content material. He urged others to learn the assertion, stressing that Coinbase will not be taking this matter evenly.
Nickel addressed essential arguments made by Coinbase in its submitting, arguing that the property in query weren’t securities to start with and didn’t meet the usual of an funding contract.
Nickel additionally criticized SEC Chairman Gary Gensler, pointing to his earlier assertion in 2021 through which he acknowledged a scarcity of authority except Congress acted, whereas noting that Congress had not acted.
