Get the latest tech news
Coinbase argues for motion to dismiss SEC’s ‘securities violation’ allegations
Typically, the SEC has a strong track record of winning its lawsuits, but it hasn't had much luck when it comes to crypto.
Coinbase, one of the largest crypto exchanges globally, bit back on Wednesday during a hearing to decide whether it committed securities violations. Coinbase has requested that New York District Judge Katherine Polk Failla dismiss the suit because it alleges that cryptocurrencies aren’t under the jurisdiction of the SEC as shares in companies (stocks) are. Patrick Costello, an SEC assistant chief litigation counsel, argued that because crypto assets are typically tied to a blockchain network or “enterprise,” they are similar to investment contracts.
Or read this on TechCrunch
