In response to the U.S. Securities and Exchange Commission's (SEC) submission of a dissenting opinion in the court, requesting the dismissal of Coinbase's motion to dismiss the lawsuit, Coinbase's Chief Legal Officer (CLO) Paul Grewal expressed his perspective. He stated that the SEC's arguments lack specific legal citations and rely on vague claims. Grewal emphasized that, based on several months of legal proceedings, it has become clear that cryptocurrencies listed on Coinbase are not securities and should not fall under the jurisdiction of the SEC.

Furthermore, Grewal pointed out that the SEC's approach to enforcement-based regulations does not consider the voices of the approximately 52 million cryptocurrency users in the United States. He likened the SEC's stance to claiming that various collectibles such as Pokémon cards and stamps should also be considered securities.

This statement from Coinbase's CLO reflects the ongoing legal battle between the cryptocurrency industry and regulatory authorities, highlighting the differing viewpoints and challenges in determining the regulatory status of digital assets. If you have further questions or require additional information, please feel free to ask.