Coinbase Fights Back: Seeking Dismissal of SEC Lawsuit
TL;DR Summary
Coinbase has filed a motion to dismiss the United States Securities and Exchange Commission's (SEC) lawsuit, arguing that the plaintiff does not have a valid legal claim. The cryptocurrency exchange raised concerns about the SEC's interpretation of securities laws, stating that the agency was overstepping its legal authority. Coinbase's legal team claimed that the lawsuit violated the company's due process rights and constituted an abuse of process. The SEC alleged that Coinbase facilitated unregistered trading in 12 digital tokens deemed securities, but Coinbase argued that the SEC's application of securities laws deviated from existing legal frameworks.
- Coinbase seeks dismissal of SEC suit, claims extraordinary abuse of process Cointelegraph
- SEC Has No Jurisdiction Over Cryptos on Coinbase, Exchange Says in Lawsuit Response CoinDesk
- Why Coinbase Thinks the SEC Lawsuit Should Be Dismissed Decrypt
- Coinbase to Ask Court to Dismiss SEC Lawsuit The Wall Street Journal
- First Mover Americas: Coinbase Responds to the SEC’s Lawsuit CoinDesk
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