EddieJayonCrypto
17 Jan 24
:Coinbase is gearing up to present its case in federal court against the U.S. Securities and Exchange Commission (SEC) in a bid to fight claims that the crypto exchange has been trading unregistered securities. The outcome of this legal battle, scheduled for a four-hour oral argument, could have sig...
Coinbase is gearing up to present its case in federal court against the U.S. Securities and Exchange Commission (SEC) in a bid to fight claims that the crypto exchange has been trading unregistered securities. The outcome of this legal battle, scheduled for a four-hour oral argument, could have significant implications for the broader crypto industry's regulatory struggles. Judge Katherine Polk Failla will ultimately decide whether to throw out the SEC's case, a decision that will likely shape the future trajectory of the clash between the industry and the regulator.
Coinbase is poised to argue with the Securities and Exchange Commission over whether its business model is violating U.S. law. A federal judge in New York will hear a lengthy four hours of oral arguments in the case, and the crypto industry will see whether her eventual decision about throwing out the SEC's case will help or hurt its momentum against the regulator. Coinbase is about to make its case in a federal courtroom that the U.S. Securities and Exchange Commission (SEC) is wrong about its legal arguments that the crypto exchange has been trading unregistered securities. What the New York judge does next could have serious consequences for the wider industry's clashes with the regulator. The company has asked Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York to throw out the case – a longshot request, but one that she may be taking very seriously. She's booked four hours of back-and-forth with Coinbase and the SEC on Wednesday – an unusual depth of oral arguments for such a motion, which often tends to favor the government side in this kind of enforcement case.
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