Coinbase, a U.S based cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC) had their first scuffle as New York’s Judge Katherine Polk Failla weighted in on a motion to dismiss the case in which the regulator alleges the exchange was involved in facilitating the trade of unregistered securities. Judge Failla will decide on the subject in the coming weeks.
Coinbase and SEC Face at Court
What might become the most significant case to define the classification of cryptocurrencies as securities finished its first chapter without a clear winner. This Wednesday, Coinbase and the U.S. Securities and Exchange Commission (SEC) met for the first time in court to discuss if the case should be thrown based on the arguments presented by the exchange in a document filed in August.
The SEC charged Coinbase in June on the charges of operating as an unregistered national securities exchange, broker, and clearing agency.
During the hearing, both parties agreed before Judge Kat
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