Coinbase Moves To Dismiss SEC Lawsuit; Cites Hinman Docs

Also Read: Coinbase CEO Notes Singapore Crypto Outlook While Facing US SEC Case

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Coinbase Denies SEC’s Charges

As per Coinbase’s reply, it admits that it has not registered with the SEC as a broker, national securities exchange, or clearing agency. However. It denies that any of the assets it made available for trading include crypto asset securities.

It further denied that the commission has authority concerning investors, while, it also rejects that either the laws or SEC require a segregation of functions.

Paul Grewal, Chief Legal Officer At Coinbase urged that it welcome a dialogue with any financial watchdog and calls for a new legislation and rulemaking ahead. However, it claims that this SEC lawsuit is beyond the existing law and might be dismissed. Read More Coinbase News Here…

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Attorney John Deaton. XRP holders’ lawyer in the US SEC Vs Ripple case noted that Coinbase’s motion is strong but he is sure that it will be granted by the court. The motion mentioned that Congress is initiating legislation, demonstrating its intent to make rules is a major issue.

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