Golden Finance reported that Coinbase claimed in its first legal response to the regulator's lawsuit that the digital assets listed on its platform are not under the jurisdiction of the U.S. Securities and Exchange Commission (SEC). In its response filed earlier on Thursday, Coinbase claimed that these cryptocurrencies are not investment contracts and therefore not securities. The document stated that since transactions on the Coinbase secondary market exchange do not bear such obligations, and the value obtained by Coinbase purchasers through these transactions belongs to the items purchased and traded, rather than the business that generates these items, these transactions are not securities transactions.