Chair

Circuit

Partial

James

<p>The post <a href="https://coinpedia.org/news/coinbase-vs-sec-update-4-possible-outcomes-on-jan-17th-hearing/" rel="noopener noreferrer nofollow">Coinbase Vs SEC Update :4 Possible Outcomes On Jan 17th Hearing</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency community eagerly awaits the SEC v. Coinbase hearing on January 17, where the court will address Coinbase’s Motion for Judgment on the Pleadings. Legal analyst, James Murphy, who popularly goes by the name ‘<a href="https://twitter.com/MetaLawMan/status/1746187846191321163?t=edAvJBel4VK7pOl0BHjeyg&amp;s=19" rel="noopener noreferrer nofollow">MetaLawMan</a>‘ on social media platform X, shares insights into possible outcomes shaping this pivotal moment for Coinbase.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">SEC v. <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Coinbase</a>, Update <br><br>The hearing on Coinbase’s Motion for Judgment on the Pleadings will be held on Wednesday, Jan 17.<br><br>There are four possible outcomes, with potential permutations to each. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>— MetaLawMan (@MetaLawMan) <a href="https://twitter.com/MetaLawMan/status/1746187846191321163?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h3 class="wp-block-heading" id="h-option-1-denial-of-coinbase-motion"><strong>Option 1: Denial of Coinbase Motion</strong></h3>
<p>If the judge denies Coinbase’s motion, the SEC’s low bar for plausibility would be met, leading to a continuation of the case into a lengthy discovery phase, similar to the situation with Ripple.</p>
<h3 class="wp-block-heading" id="h-option-2-granting-coinbase-s-motion-with-prejudice"><strong>Option 2: Granting Coinbase’s Motion “with Prejudice”</strong></h3>
<p>A favorable outcome for Coinbase would see the judge dismissing the entire case. However, this would likely prompt the SEC to appeal at the Second Circuit Court of Appeals.</p>
<h3 class="wp-block-heading" id="h-option-3-granting-motion-without-prejudice"><strong>Option 3: Granting Motion “Without Prejudice”</strong></h3>
<p>This scenario would allow the SEC a chance to amend its complaint to address cited deficiencies. Yet, if the court questions the SEC’s authority to regulate crypto exchanges, an amendment might be futile.</p>
<h3 class="wp-block-heading" id="h-option-4-partial-granting-of-motion"><strong>Option 4: Partial Granting of Motion</strong></h3>
<p>The judge could grant the motion for certain claims related to specific crypto tokens while denying it for others, splitting the case into distinct focuses, such as the staking service.</p>
<h2 class="wp-block-heading" id="h-further-insights-nbsp"><strong>Further Insights&nbsp;</strong></h2>
<p>Murphy acknowledges that although an immediate ruling isn’t expected after the hearing, chances are that the judge might provide hints through her questioning. He plans to be in court for insights and will share his views on the likely outcome afterwards.</p>
<p>With regards to the urgency of the case, with significant implications, MetaLawMan predicts a potential swift ruling from Judge Failla, possibly within three months.&nbsp;</p>
<p>In the <a href="https://coinpedia.org/news/coinbase-files-legal-action-against-sec-for-crypto-regulation-oversight/" rel="noopener noreferrer nofollow">previous Court hearing</a> from the SEC vs Coinbase legal showdown, the SEC had denied Coinbase’s petition for specific rules on crypto. The denial prompted Coinbase’s legal intervention, seeking clarity for the cryptocurrency industry.&nbsp;</p>
<p>SEC Chair Gary Gensler defended the decision, emphasizing existing regulations. Coinbase’s Chief Legal Officer, Paul Grewal, expressed the company’s intent to challenge the denial in court, highlighting the industry’s perceived lack of clarity.</p>
<p>As the crypto industry watches closely, the hearing’s outcome will significantly impact Coinbase’s as well as the whole of the crypto industry’s legal trajectory.</p>

Coinbase Vs SEC Update :4 Possible Outcomes On Jan 17th Hearing

Tabla de contenidos

CoinPedia News

Otros artículos publicados el 14 ene 2024

Google Removes Offshore Crypto Apps; Including Binance from Play Store

Weekly Crypto Price Analysis: BTC, ETH, BNB, SOL, XRP, ADA, And DOGE

Eligibility Criteria and Claiming Process for Holders of JTO

Bitcoin to Reach All-Time High by 2025, Predicts SkyBridge Capital CEO

6 Cryptocurrencies That Are Underrated but Powerful

What’s Ahead for Altcoins in 2024? Insights from Crypto Pro Michaël van de Poppe

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!