Court Order: SEC to Provide Counterarguments to Coinbase’s Legal Defense
According to a court order issued on Thursday, the United States Securities and Exchange Commission (SEC) is set to provide its counterarguments in response to Coinbase’s initial legal defense on July 13. Here are the key points:
– Coinbase received a request from the SEC for a three-business-day extension, which they agreed to.
– Coinbase filed its initial response 40 days ahead of the original deadline, prompting an earlier hearing date.
– The court converted the pre-trial conference to a pre-motion conference, rescheduling it to July 13.
– Coinbase argues that the SEC does not have the authority to pursue civil claims against the company.
– Coinbase’s defense strategy includes filing its response early and including supportive documents to bolster their case.
Hot Take:
Coinbase is taking a proactive approach to defend itself against the SEC’s claims. By filing its response early and presenting legal arguments for dismissing the case, the exchange is positioning itself for a favorable outcome. The court appearance on July 13 will determine whether Coinbase can move forward with its motion or request, and it will be interesting to see how Judge Katherine Polk Failla assesses the arguments presented in court.
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