Coinbase Requests Court Dismissal of SEC Case!

crypto exchange Coinbase, U.S. Securities and Exchange Commission (SEC) filed a petition to dismiss the recent lawsuit brought against him by

Coinbase Files A Petition To Dismiss SEC’s Lawsuit

The lawsuit alleged that Coinbase facilitated unregistered trading in 12 digital tokens considered securities. The claim was hotly debated by the exchange in its final response.

The company argued that the SEC applies securities laws to certain digital tokens in a way that deviates significantly from existing legal frameworks.

Paul Grewal, Coinbase’s chief legal officer, stated that the SEC’s claims go far beyond current law and should therefore be dismissed.

In a legal document submitted to the US District Court for the Southern District of New York on Thursday, Coinbase expressed concern over the SEC’s interpretation of securities laws, suggesting that the agency had gone beyond its statutory authority.

The request for impeachment underscores Coinbase’s determination to appeal the SEC’s lawsuit. The dismissal claim argues that the plaintiff does not have a valid legal claim, even if all the claims in the case are true.

“Even if the SEC is right that the assets and services it describes are within its current regulatory jurisdiction, this lawsuit should be dismissed on independent grounds as it violates Coinbase’s legal action rights and constitutes an extraordinary abuse of the process,” Coinbase’s legal team said.

Coinbase claims that the assets in question are not securities.

As a US government agency, the SEC requires any platform that facilitates the trading of assets it identifies as securities to be registered with it.

*Not investment advice.