SEC Responds to Coinbase’s Filing, Claims Exchange Made Calculated Decision
The United States Securities and Exchange Commission (SEC) has responded to Coinbase’s request to dismiss charges filed against the exchange. The SEC argues that Coinbase made a “calculated decision” to act as an unregistered securities intermediary. Here are the key points:
– Coinbase filed a request to dismiss the SEC’s charges in June, claiming that the SEC had previously approved its business model.
– The SEC has launched legal operations against Coinbase and Binance, accusing them of violating federal securities laws.
– Coinbase has repeatedly tried to engage in positive regulatory dialogues with the SEC but has not received a response.
– The SEC’s response to Coinbase’s request to dismiss the charges claims that the exchange was aware of the risk of violating securities laws.
– The SEC argues that Coinbase’s arguments for dismissal are flawed and that secondary market transactions on Coinbase are not merely “asset sales.”
Hot Take: SEC Challenges Coinbase’s Defense
The SEC’s response to Coinbase’s request to dismiss the charges shows that the agency is not backing down. It highlights Coinbase’s alleged knowledge of the risk of violating securities laws and dismisses the exchange’s arguments. This ongoing legal battle could have significant implications for the regulation of cryptocurrencies in the United States.
By
By
By
By
By
By