Odaily Planet Daily News The US SEC provided a preview of the arguments it plans to use against Coinbase in a letter to the judge on July 7. Cryptocurrency lawyer James Murphy tweeted that the SEC’s argument against Coinbase was weak because it cited cases such as SEC v. LBRY in its letter. In a case that the SEC won in November 2022, token issuer LBRY was accused of offering cryptocurrency as an unregistered security. The judge in the cited case did not rule that tokens traded on secondary platforms were securities. Therefore, Murphy believes that the case does not fully support the SEC’s argument. The U.S. SEC relied on inapplicable cases filed in Connecticut against token issuers rather than secondary trading platforms. Murphy added that regulators may come up with better case law during comprehensive briefings, but that is not a sign of strength. (Cryptoslate) As previously reported, in the latest enforcement filing against Coinbase, SEC lawyers were skeptical of the company’s claim that it was unaware that it had violated securities laws. The SEC said Coinbase had previously "adopted a very lawful framework established by the U.S. Supreme Court" to determine whether certain cryptocurrencies meet the requirements of federal securities laws, while "clearly discouraging" cryptocurrency issuers from making any statements "traditionally related to securities." "statement of. The SEC also claimed that approving Coinbase’s IPO registration statement filed in 2021 does not mean that it approved all of the company’s business practices. Coinbase’s previous lawsuit against the SEC argued that the US SEC abused its law enforcement procedures and had no jurisdiction over the tokens on the platform. The SEC will respond to Coinbase’s first legal defense on July 13. During a court appearance on July 13, Judge Katherine Polk Failla will decide whether to allow Coinbase to move forward with its motion to dismiss.