The U.S. Securities and Exchange Commission (SEC) has filed a motion to oppose Coinbase's motion to dismiss a lawsuit against the cryptocurrency exchange. Coinbase's Chief Legal Officer, Paul Grewal, remains optimistic, stating that the SEC's claims lack legal grounds as crypto assets have not been legally deemed as securities by Congress. Grewal also highlighted that recent court decisions have made it clear that the assets listed on Coinbase's platform are not securities and are not within the SEC's jurisdiction. Despite the SEC's aggressive approach, Grewal believes that the voice of the 52-million strong crypto constituency in the U.S. should not be ignored, as they seek rules and regulations for the innovative technology. Coinbase is set to file their response to the SEC on October 24.