Stuart Alderoty, one of the lawyers of the Ripple company, led by Paul Grewal coinbase He congratulated his legal team on their case against the SEC.
As we reported as Koinfinans.com, Coinbase has been making great efforts to have the case dismissed for a while.
Paul Grewal, the lawyer representing Coinbase, recently shared the company’s stance on the case filed by the SEC.
In his statement on the matter, Grewal even claimed that the SEC had overstepped its authority by claiming broad jurisdiction over all types of investments without a clear limiting principle. The lawyer often emphasized that the stock exchange, and therefore the company, does not sell any securities and complies with the law.
Grewal also noted the importance of Congress rather than the SEC in setting regulatory limits. This, cryptocurrency It reflects an industry-wide call for more precise regulatory guidance in the field.
Effects of Ripple Case on Coinbase
At Coinbase’s latest hearing, the SEC’s legal team cited Judge Torres’ decision in the Ripple case. SEC lawyer, XRP He disagreed with Judge Torres’ decision, which distinguished between the sale of the token on the secondary market to retail investors and institutions or ‘sophisticated’ investors.
The outcome of the SEC lawsuit against Coinbase will depend on whether transactions in nearly a dozen cryptocurrency tokens constitute unregistered securities.
Judge Katherine Polk Failla has not yet made a final decision on whether to dismiss the case and is expected to make a decision in the coming weeks. This case continues to be followed closely as it may set an important precedent for the cryptocurrency industry.