Bitcoin

In a substantial development in the ongoing legal battle between Coinbase and the U.S. Securities and Exchange Commission (SEC), Paul Grewal, Coinbase&#39;s Chief Legal Officer, announced on Twitter that the cryptocurrency exchange has responded to the SEC&#39;s intent to take Coinbase&#39;s defence to court. The letter argued against the SEC&#39;s anticipated motion, stating that it lacks merit.The lawyer revealed the platform’s response to the SEC’s motion via an official Tweet:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6b01fd08c39a4361b7cb7b104f31aad8.png" />This announcement comes ahead of the first court meeting between Coinbase and the SEC, scheduled for Thursday, July 13. The SEC filed a <a href="https://cryptotale.org/fear-grips-crypto-market-as-sec-lawsuits-threaten-assets-on-major-exchanges/" rel="noopener noreferrer nofollow">lawsuit</a> against Coinbase last month, accusing the company of operating as an unregistered securities exchange. Coinbase, however, has categorically denied these accusations and has chosen to <a href="https://cryptotale.org/coinbase-seeks-dismissal-of-sec-lawsuit-in-latest-court-filing/" rel="noopener noreferrer nofollow">contest</a> them in court.Coinbase has been actively seeking regulatory clarity on cryptocurrency matters and has been engaging with the SEC over the past few months. In response to the <a href="https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules-for-americans-we-got-legal" rel="noopener noreferrer nofollow">SEC&#39;s Wells Notice</a> earlier this year, Coinbase argued that the SEC was infringing on its due process rights and attempting to take action ahead of Congress.In its initial response to the SEC, Coinbase made a crucial argument to differentiate its operations from what is traditionally considered a securities transaction. The company asserted:Read full article at <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">C</a><a href="https://cryptotale.org/coinbase-to-contest-secs-accusations-in-high-stakes-court-face-off/" rel="noopener noreferrer nofollow">ryptoTale.</a>

Coinbase to Contest SEC's Accusations in High-Stakes Court Face Off

CryptoTale

Other articles published on Jul 13, 2023

Recession probability highest since 1980s as Bitcoin enters pre-run phase

CFTC Takes Center Stage in Proposed Crypto Regulatory Bill

From Crypto to AI: Hive’s Bold Pivot Reflects Shifting Industry Dynamics

Bitcoin Price Analysis: Bulls Eyeing 31137 Level - 13 July 2023

What 3 Crypto Assets To Play Market Uptrends And Downtrends

SEC Commences Legal Action against Celsius and Former Chief, Alex Mashinsky

Join our free newsletter for daily crypto updates!