Lawyers See Weakness in SEC's Response to Coinbase
The Breakdown
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The SEC's Response to Coinbase's Complaint
Coinbase argued that the SEC lacked the jurisdiction to bring the lawsuit in part because the question of how to regulate crypto is currently under consideration by Congress and should not be preemptively decided. The regulator wrote, Coinbase a multi-billion dollar entity advised by sophisticated legal counsel argues it was unaware that its conduct risked violating the federal securities laws. Now this matter is currently scheduled on Thursday to return to court for a pre-motion conference.
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