Prominent attorney Jeremy Hogan has likened the SEC&#39;s opposition to the Coinbase case to its tactics in the Ripple case, where it attempted to sidestep state &#34;Blue Sky&#34; laws predating the SEC&#39;s formation.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/05f584803805421683693c2bfe66cb2f.png" />In an escalating dispute with the United States Securities and Exchange Commission (SEC), Coinbase Chief Legal Officer (CLO) Paul Grewal has accused the regulatory body of disregarding four crucial points in its <a href="https://wp.decrypt.co/wp-content/uploads/2023/06/coinbase-sec-lawsuit-june-6-2023.pdf" rel="noopener noreferrer nofollow">lawsuit</a> against the crypto exchange.This conflict stems from the SEC&#39;s June 6 claim that 13 cryptocurrency assets traded on Coinbase are classified as &#34;securities,&#34; thus implying the platform is operating as an unregistered securities exchange and broker. Coinbase disputed this in a June 29 <a href="https://assets.ctfassets.net/c5bd0wqjc7v0/4oVJN5EioULD0QnSyg01b8/2b1f34594a800c727fb61a384f37e74a/SEC_v._Coinbase__Coinbase_Answer_to_Complaint__As-Filed_.pdf" rel="noopener noreferrer nofollow">filing</a>, arguing that the SEC lacks jurisdiction over the exchange&#39;s cryptocurrencies and requested the regulator to clarify its stance.Recently, the SEC responded to Coinbase&#39;s late June filing, leading to another round of dissatisfaction from the crypto exchange. Grewal <a href="https://twitter.com/iampaulgrewal/status/1677426022248075264?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1677426024777232384%7Ctwgr%5E0741a33fa9a2f8cfce53a9c2e39927415c22621b%7Ctwcon%5Es2_&amp;ref_url&#61;https%3A%2F%2Fwww.fxstreet.com%2Fcryptocurrencies%2Fnews%2Fcoinbase-calls-out-sec-for-ignoring-four-dispositive-points-after-a-rebuttal-of-exchanges-recent-filing-202307072322" rel="noopener noreferrer nofollow">outlined</a> four main shortcomings in the SEC&#39;s case. Firstly, he criticized the SEC for ignoring the Supreme Court&#39;s stance on the Howey test, which defines an investment contract. According to the court, an asset must entail enforceable rights against the issuer to be considered an investment contract.Read full article at Cr<a href="https://cryptotale.org/coinbase-accuses-sec-of-overlooking-key-points-in-recent-lawsuit/" rel="noopener noreferrer nofollow">yptoTale.</a>

Coinbase Accuses SEC of Overlooking Key Points in Recent Lawsuit

CryptoTale

Other articles published on Jul 8, 2023

Maximizing Crypto and DeFi Investments with Dollar Cost Averaging: The Path to Long-Term Success

XRP Lawsuit Delay Stirs Concerns Among Pro-Ripple Lawyer and Community

Ripple Developer Warns of Trouble and Excessive Funding Risks Amid SEC Case

Bitcoin as Digital Gold: Is Ethereum the Digital Silver?

IMF Issues Warning About Taxing Cryptocurrencies

Binance Announces Retirement of XRP, DOGE, and ADA Deposit Addresses

Join our free newsletter for daily crypto updates!