Coinbase vs US SEC: Attorneys representing defendant Coinbase in opposition to the U.S. Securities and Alternate Fee (SEC) submitted a response to the amicus temporary in help of the SEC by the North American Securities Directors Affiliation (NASAA). Coinbase prepares to problem the SEC and its amicus curie in January’s oral arguments.
Coinbase Responds to SEC’s Amicus NASAA
Final week, Choose Katherine Failla accredited an amicus temporary by the North American Securities Administrators Association (NASAA) for consideration within the U.S. SEC v. Coinbase lawsuit. The NASAA alleges Coinbase has violated securities regulation and requested the courtroom to reject Coinbase’s movement for judgment on the pleadings.
William Savitt, one of many high U.S. attorneys representing Coinbase, submitted a response to an amicus temporary filed by the NASAA, claiming the arguments by the NASAA are supported by decades-old case regulation, much like SEC’s argument. Coinbase has conferred with the SEC in regards to the want for brand new guidelines and rules relating to new applied sciences, arguing that decade-old legal guidelines should not correct for crypto.
“Just like the SEC’s positions, the NASAA’s arguments are foreclosed by statutory textual content and eight many years of case regulation.”
Coinbase appears to be like ahead to the January 17 oral argument date to problem the SEC and the NASAA. Attorneys for Coinbase requested the courtroom to grant an order for judgment on the pleadings.
Defendant had requested the courtroom to dismiss the lawsuit claiming that the SEC has no jurisdiction over the crypto trade, and interferes with latest U.S. Congress’ efforts for a crypto regulatory framework.
In the meantime, Coinbase appears to be like to make the ultimate push to show that SEC arguments are irrational, neither crypto listed by the alternate nor its crypto staking are securities.