The post Senators and Lobbyists urge dismissal of the SEC lawsuit against Coinbase! appeared first on Coinpedia Fintech News
U.S. Senator Cynthia Lummis and a group of cryptocurrency lobbying organizations and law professors are urging a federal court to dismiss a lawsuit by the Securities and Exchange Commission (SEC) against Coinbase, the popular cryptocurrency exchange. The SEC has alleged that Coinbase engaged in an unregistered securities offering with its lending product. However, critics argue that the lawsuit sets a dangerous precedent for the industry, stifling innovation and growth and hindering the United States’ ability to compete in the global crypto market. The outcome of the lawsuit may have far-reaching implications for the regulatory landscape of cryptocurrencies in the United States.
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