Recently, cryptocurrency exchange Bittrex filed a motion to dismiss in an attempt to overturn a lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC). Bittrex said in court documents that the SEC does not have the authority to regulate cryptocurrencies as securities unless expressly authorized by Congress. The move challenges the SEC’s interpretation of current securities regulations and attempts to establish a clearer regulatory framework for digital assets.

Notably, Bittrex has adopted a Coinbase-like strategy of closely aligning its arguments with larger cryptocurrency exchanges. This means that Bittrex is trying to use the solid legal framework established by Coinbase to build a unified line of defense against SEC lawsuits. As the market continues to mature, we look forward to establishing a clear and reasonable digital asset regulatory system as soon as possible.