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SEC Asks Judge to Deny Coinbase Motion to Dismiss its Lawsuit
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The U.S. Securities and Exchange Commission (SEC) has asked a federal judge to deny Coinbase’s motion to dismiss a high-profile lawsuit alleging the exchange improperly offered unregistered securities.
Coinbase previously contended the SEC abused its discretion. The exchange says the SEC exceeded its authority in bringing charges against the platform for dealing in crypto assets not registered as securities. However, the agency asserts it acted firmly within its jurisdiction in targeting alleged securities law violations.
Also Read: Friend.Tech Users Fall Victim to SIM Swap Attack, Loses Ethereum
JUST IN:
— Watcher.Guru (@WatcherGuru) October 3, 2023SEC asks judge to deny Coinbase motion to dismiss its lawsuit.
Coinbase-SEC case has broad implications
The closely watched case holds broad implications for the legal status of cryptocurrencies and the SEC’s scope of oversight. The crypto community is monitoring the outcome for precedent on the commission’s regulatory reach regarding digital asset platforms.
Under Chair Gary Gensler, the SEC has taken the stance that most cryptocurrencies qualify as securities subject to its investor protection rules. However, the exchange argues that many assets don’t fall under the securities title and lie beyond the SEC’s purview.
Also read: Binance Assists in Bust of $277M Thai Crypto Scam Syndicate
While the SEC’s scrutiny of the cryptocurrency realm continues, the outcome of the Coinbase-SEC lawsuit will prove to be a pivotal moment for the crypto community.
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$ 2.76K
-8.14%$ 0.013
-8.14%$ 0.000488
$ 2.11
$ 0.0000551
Funds
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Coinbase vs. Wall Street: Tokenization Battle Threatens Crypto Bill
Crypto stocks sink as spot volume plunges and bitcoin tumbles below $84,000
SEC Asks Judge to Deny Coinbase Motion to Dismiss its Lawsuit
Share:
The U.S. Securities and Exchange Commission (SEC) has asked a federal judge to deny Coinbase’s motion to dismiss a high-profile lawsuit alleging the exchange improperly offered unregistered securities.
Coinbase previously contended the SEC abused its discretion. The exchange says the SEC exceeded its authority in bringing charges against the platform for dealing in crypto assets not registered as securities. However, the agency asserts it acted firmly within its jurisdiction in targeting alleged securities law violations.
Also Read: Friend.Tech Users Fall Victim to SIM Swap Attack, Loses Ethereum
JUST IN:
— Watcher.Guru (@WatcherGuru) October 3, 2023
Coinbase-SEC case has broad implications
The closely watched case holds broad implications for the legal status of cryptocurrencies and the SEC’s scope of oversight. The crypto community is monitoring the outcome for precedent on the commission’s regulatory reach regarding digital asset platforms.
Under Chair Gary Gensler, the SEC has taken the stance that most cryptocurrencies qualify as securities subject to its investor protection rules. However, the exchange argues that many assets don’t fall under the securities title and lie beyond the SEC’s purview.
Also read: Binance Assists in Bust of $277M Thai Crypto Scam Syndicate
While the SEC’s scrutiny of the cryptocurrency realm continues, the outcome of the Coinbase-SEC lawsuit will prove to be a pivotal moment for the crypto community.
In This News
Coins
$ 2.76K
-8.14%$ 0.013
-8.14%$ 0.000488
$ 2.11
$ 0.0000551
Funds
Share:
In This News
Coins
$ 2.76K
-8.14%$ 0.013
-8.14%$ 0.000488
$ 2.11
$ 0.0000551
Funds
Share:
Read More
Coinbase vs. Wall Street: Tokenization Battle Threatens Crypto Bill