Coinbase's Legal Troubles: SEC Accuses Exchange of Violating Securities Laws

The U.S. Securities and Exchange Commission (SEC) has argued in a new filing that Coinbase was aware of the possibility of violating federal securities laws prior to the SEC's lawsuit against the cryptocurrency exchange. The SEC responded to Coinbase's claim that the agency lacked jurisdiction, stating that Coinbase had previously adopted the legal framework to determine compliance with securities laws. The SEC also opposed Coinbase's motion for judgment and asked the court to strike Coinbase's arguments. A hearing is scheduled for July 13 in the District Court for the Southern District of New York.