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Leading cryptocurrency exchange, Coinbase has officially filed a motion asking the court to dismiss the ongoing lawsuit from the SEC. 
Coinbase has officially <a href="https://assets.ctfassets.net/c5bd0wqjc7v0/7eaTxSOvCLrGR2frvCqS3Q/b98f952657b7bc821b218d1f601b9161/CoinbasevSEC12_c_Motion.pdf" rel="noopener noreferrer nofollow">filed </a> a motion to dismiss the lawsuit from the United States Securities and Exchange Commission. The development was shared today by Paul Grewal, Coinbase’s Chief Legal officer. 
“Today, Coinbase filed our brief asking the Court to dismiss the SEC’s case against us,” Grewal said today on X, formerly Twitter. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@coinbase</a> <a href="https://t.co/r2EkDgkEuc" rel="noopener noreferrer nofollow">https://t.co/r2EkDgkEuc</a> 
 <a href="https://twitter.com/iampaulgrewal/status/1687435194247303168?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 4, 2023</a> 
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<h2 id="span-style-font-weight-400-coinbase-doesn-t-offer-investment-contracts-span">Coinbase Doesn’t Offer Investment Contracts </h2> 
Grewal noted that Coinbase’s main argument is that it does not offer investment contracts- a special type of securities- as defined by decades of Supreme Court cases and other legal precedents. 
He accused the SEC of abusing its discretion, violating due process, and abandoning its own interpretations of the securities laws. 
Furthermore, Grewal said the SEC had overstepped its authorities set by Congress by ignoring other binding legal precedents. 
It is worth noting that the development comes a few hours after Grewal disclosed that the exchange would file an order seeking to dismiss the SEC’s lawsuit. 
Recall that the SEC <a href="https://thecryptobasic.com/2023/06/06/sec-sues-coinbase-cardano-mentioned-as-security-in-both-lawsuits-against-top-exchanges/" rel="noopener noreferrer nofollow">sued </a> Coinbase in June, alleging that the cryptocurrency exchange sold unregistered securities, including ADA. ... 
<a href="https://thecryptobasic.com/2023/08/04/coinbase-officially-files-motion-to-dismiss-sec-lawsuit/" rel="noopener noreferrer nofollow">Read more</a>

Coinbase Officially Files Motion to Dismiss SEC Lawsuit

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