In a motion for judgment filed on August 4, Coinbase hit back against the SEC’s lawsuit alleging it facilitated unregistered trading of securities, arguing the agency lacks authority to regulate digital assets in this way.
Coinbase Fights Back Against SEC’s Crypto Exchange Lawsuit
In a court filing submitted on Friday, Coinbase contends the SEC’s claims rely on an overbroad reading of the term “investment contract” that departs from decades of precedent and statutory text. The crypto-centric company says the SEC fails to allege the transactions facilitated on its exchange include any contractual rights entitling buyers to future profits or income from issuers, an essential element of an investment contract.
Today, @coinbase filed our brief asking the Court to dismiss the SEC’s case against us. Our core argument is simple — we do not offer “investment contracts” as that term has been construed by decades of Supreme Court and other binding precedent. 1/3 https://t.co/r2EkD
We współpracy z: https://news.bitcoin.com/coinbase-urges-court-to-dismiss-sec-case-claiming-regulator-overstepped-its-statutory-authority/
