Bitcoin

Coinbase has made a significant stride in the ongoing SEC lawsuit by filing a narrow motion in the Southern District of New York (SDNY). The exchange urges the Commodities Futures Trading Commission (CFTC) to produce communications with issuers of 12 tokens in question. According to Paul Grewal, Coinbase&#39;s Chief Legal Officer, the CFTC&#39;s documents could be a game-changer in the exchange&#39;s defense against the SEC&#39;s allegations.Coinbase’s Motions To CompelPreviously, Coinbase requested the court to compel the Securities and Exchange Commission (SEC) to submit crucial documents. The exchange demanded the SEC’s submission of details regarding the interaction with the token issuers. In response to the motion, Judge Katherine Polk Failla ordered the regulators to produce the documents. Coinbase’s motions to “compel” were a part of the exchange’s efforts to prove the SEC’s allegations wrong. In the 2023 lawsuit, the SEC argued that Coinbase offered unregistered securities.Coinbase has now requested the court&#39;s assistance in obtaining cooperation from the CFTC for the ongoing lawsuit. According to Grewal, the documents are essential to shedding light on regulatory guidelines for cryptocurrencies. CFTC’s documents could help determine if the tokens are securities. The exchange argued that the details would be “critical to Coinbase’s ability to defend itself against the allegations in the SEC Action.” They also demanded documents on the agencies’ “regulatory authorities over digital assets, including market uncertainty on this subject.”<a href="https://cryptotale.org/coinbase-seeks-cftcs-cooperation-in-sec-lawsuit-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Coinbase Seeks CFTC’s Cooperation in SEC Lawsuit: Report

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