🇻🇳 The SEC filed an opposition to Coinbase's motion to dismiss the lawsuit on October 3, citing the familiar grounds that crypto assets are securities. However, Coinbase's chief legal officer, Paul Grewal, said that the SEC has no basis for these allegations.
🔹 Grewal said the assets listed on its platform are not securities and are not under the jurisdiction of the SEC. Court decisions over the past few months have made this clear.
🔹 Crypto lawyer John E. Deaton said that after reading the SEC's objection, Coinbase's odds of winning increased to at least 50%.
🔹 Grewal believes that the SEC's approach of regulating through lawsuits ignores the voices of the 52 million Americans invested in cryptocurrency, who want rules and regulations for this innovative technology.
Coinbase will file a response with the SEC on October 24.
🔹 Grewal said the assets listed on its platform are not securities and are not under the jurisdiction of the SEC. Court decisions over the past few months have made this clear.
🔹 Crypto lawyer John E. Deaton said that after reading the SEC's objection, Coinbase's odds of winning increased to at least 50%.
🔹 Grewal believes that the SEC's approach of regulating through lawsuits ignores the voices of the 52 million Americans invested in cryptocurrency, who want rules and regulations for this innovative technology.
Coinbase will file a response with the SEC on October 24.