Fun

News Feed - 2023-10-25 02:10:59

Brayden Lindrea3 hours agoCoinbase disputes SEC’s crypto authority in final bid to toss regulator’s suitCoinbase says the SEC’s definition of an investment contract isn’t in line with U.S. securities laws.2053 Total views7 Total sharesListen to article 0:00NewsJoin us on social networksThe United States Securities and Exchange Commission overstepped its authority when it classified Coinbase-listed cryptocurrencies as securities, the exchange has argued in its final bid to dismiss a lawsuit by the securities regulator.


In an Oct. 24 filing in a New York District Court, Coinbase chastised the SEC, claiming its definition for what qualifies as a security was too wide and contested that the cryptocurrencies the exchange lists are not under the regulator’s purview.“The SEC’s authority is limited to securities transactions. Not every parting of capital with a hope of gain qualifies, and trades over Coinbase are only securities transactions if they involve ‘investment contracts.’ The transactions at issue here do not.”


Coinbase claimed the SEC has undertaken a “radical expansion of its own authority” and claimed jurisdiction “over essentially all investment activity,” which only Congress is entitled to do under the major questions doctrine.


In an Oct. 24 X post, Coinbase chief legal officer Paul Grewal echoed the claims, saying the SEC’s definitions have “no limiting function at all.”By arguing that any purchase in which the buyer hopes for an increase in value constitutes an investment contract-and therefore a security-the SEC is attempting a radical expansion of its own authority. Only Congress can do that as the major questions doctrine makes clear. 2/3— paulgrewal.eth (@iampaulgrewal) October 24, 2023


Coinbase’s recent filing comes in response to the SEC’s Oct. 3 rebuttal where it asked the court to reject Coinbase’s dismissal motion, iterating its belief that various cryptocurrencies Coinbase listed were investment contracts under the Howey test.


Related:Securities regulators oppose special treatment of crypto in Coinbase case


The SEC sued Coinbase on June 6, claiming the exchange violated U.S. securities laws by listing several tokens it considers securities and not registering with the regulator.


Coinbase filed the motion for judgment on June 29 arguing the SEC was abusing its power and violating Coinbase’s due process rights.


Judge Katherine Polk Failla, who oversees the case, may ask Coinbase and the SEC to appear in court for oral arguments and then issue judgment on the case, dismiss it, or move for it to be heard in front of a jury.


Magazine: Hall of Flame: Crypto lawyer Irina Heaver on death threats, lawsuit predictions# Coinbase# Altcoin# Law# Business# Security# SEC# RegulationAdd reactionAdd reactionRead moreIRS proposes unprecedented data-collection on crypto usersElizabeth Warren uses Hamas as her newest scapegoat in war on cryptoSEC asks judge to reject Coinbase’s motion to dismiss lawsuit

News Feed

Derivatives, Spot Markets, Dex Swaps — 30 Day Crypto Trade Volumes Slipped Across the Board Last Month
Derivatives, Spot Markets, Dex Swaps — 30 Day Crypto Trade Volumes Slipped Across the Board Last Month Digital currency markets have been tumultuous during the past month as bitc
Ethereum Make-Or-Break Moment: This Key Level Determines Path To Reach $7,000
Este artículo también está disponible en español. Despite Ethereum (ETH) recently losing the critical $3,000 threshold due to broader cryptocurrency market corrections in
The Winners of Metaverse Alliance 2021 Global Metathon
The Winners of Metaverse Alliance 2021 Global Metathon press release PRESS RELEASE. Lasting for two months, the largest Metaverse Hackathon (called Metathon) organized by Metaverse
Joe Hall11 hours agoBitcoin builder climbs Africa’s tallest mountain to raise awarenessAdvocates for the Bitcoin Lightning Network and decentralized protocol Nostr funded Kweks’ Kilimanjaro climb.2912 Total views35 T
OpenAI backs Senate bills to advance AI safety and accessibility
Amaka Nwaokocha11 hours agoOpenAI backs Senate bills to advance AI safety and accessibilityOpenAI’s support for these bills highlights a broader vision for AI that balances safety, accessibility and the potential for e
Cointelegraph Innovation Circle9 hours ago16 tips to help blockchain companies refine their marketing messagesBlockchain companies aren’t just selling themselves; they’re also selling the industry’s technology and
Telegram Launches Premium Tier Benefits Seeking to Monetize Platform
Telegram Launches Premium Tier Benefits Seeking to Monetize Platform Popular messaging platform Telegram has announced it is launching a new premium tier of its services as it seek
Bitcoin whales scoop up $1.4B in 24 hours amid market correction
Brayden Lindrea3 hours agoBitcoin whales scoop up $1.4B in 24 hours amid market correctionThe huge and sudden uptick in Bitcoin whale accumulation came as Bitcoin supply on exchanges fell to its lowest level since Decemb
we2net Gains Strong Traction in Korea with 200+ LP Holders and $760k Initial Liquidity
we2net Gains Strong Traction in Korea with 200+ LP Holders and $760k Initial Liquidity press release PRESS RELEASE.we2net, a new DeFi platform that aims to bridge the gap between ce
Alphabit Digital Currency Fund Deploys Initial Investment in Stratis Protocol and Initiates Coverage
Alphabit Digital Currency Fund Deploys Initial Investment in Stratis Protocol and Initiates Coverage PRESS RELEASE. Stratis’ innovative blockchain solution
US Sentences Promoter of $3.4B Bitconnect Crypto Ponzi Scheme to 38 Months in Prison
US Sentences Promoter of $3.4B Bitconnect Crypto Ponzi Scheme to 38 Months in Prison The U.S. has sentenced a Los Angeles man to 38 months in federal prison for his role in the $3.
Marcel Pechman3 hours agoCoinbase earnings show the company is now much more than just an exchangeThe Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a po