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Coinbase Chief Legal Officer Paul Grewal said in a social media post on X that the exchange was prepared for the ruling and would continue to fight the SEC's claims.
A federal appeals court on Friday revived a lawsuit by Coinbase customers who accused the largest U.S. cryptocurrency exchange of illegally selling unregistered securities and failing to register ...
Coinbase, the largest U.S. crypto exchange, sued the Securities and Exchange Commission last year in an effort to compel the regulator to act on a petition for rulemaking Coinbase filed in 2022.
The SEC's Coinbase insider trading lawsuit is a more complicated case because none of the defendants are crypto firms, but instead, individuals accused of using insider information for personal gain.
All three defendants are accused of wire fraud and conspiracy to commit wire fraud. The SEC's prayer for relief insists that the court find that the three defendants violated federal securities laws, permanently restrain and enjoin Defendants from, directly or indirectly, engaging in cryptocurrency trading. fine the three to pay civil penalties, and order the three defendants to surrender an ...
Coinbase’s institutional service, Prime, its retail exchange product, and its self-custody Wallet service all offered one or more crypto asset security, the SEC said in its complaint.
Coinbase leaned on the recent Ripple matter in Friday's filing, noting the SEC's lawsuit hinges on the type of transactions that the judge deemed outside of the regulator's jurisdiction.
Coinbase, in its first legal response to the lawsuit, said the tokens named by the SEC are not securities and therefore fall outside the SEC's scrutiny. They include Sol, ADA, and MATIC.