Coinbase Files Motion To Dismiss SEC Case Against the Crypto Exchange - The Daily Hodl

The Daily Hodl
The Daily Hodl

29 Jun 2023 6:41 PM

Top US-based crypto exchange Coinbase is filing a motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against it....

  • Coinbase, a US-based crypto exchange, is filing a motion to dismiss the SEC's lawsuit against it.
  • The SEC alleges that Coinbase sold unregistered securities by classifying certain crypto assets as securities.
  • Coinbase argues that its transactions do not qualify as securities because they do not involve an ongoing business enterprise with enforceable obligations to investors.
  • Coinbase claims that the SEC Chair, Gary Gensler, is overreaching his authority by requiring crypto companies to register as securities exchanges and imposing retroactive penalties.

The sentiment of the article is neutral. It presents the arguments and actions of Coinbase and the SEC without expressing a clear opinion.

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You May Ask

What is Coinbase filing a motion for?What does the SEC allege against Coinbase?Why does Coinbase argue that its transactions do not qualify as securities?Who is the SEC Chair mentioned in the article?Which other crypto exchange is being sued by the SEC on similar grounds?

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