The US Securities and Exchange Commission (SEC) has asked a judge to reject Coinbase's attempt to have the regulator's lawsuit against it thrown out. The exchange alleged that the agency exceeded its authority and abused its discretion by claiming that digital assets offered on the trading platform were unregistered securities.
SEC Adds Arguments to Support Its Claim That Crypto Assets on Coinbase Amount to Securities
The securities regulator in the United States is not letting up in its litigation against America's leading cryptocurrency exchange. On Tuesday, the SEC asked a federal judge to reject Coinbase's attempt to have the Commission's lawsuit against it dismissed.
In a legal case filed in early June, the SEC accused Coinbase of evading its regulations for years and violating various securities laws by illegally operating an unregistered exchange, brokerage and clearinghouse. The lawsuit comes after the regulatory body sued Binance, the world's largest crypto exchange, based on similar allegations.
In August, Coinbase urged the court to dismiss the SEC case, stating that the agency had “exceeded its legal authority,” “abused its discretion,” and ignored its previous interpretation of U.S. securities laws.
