The post the legal battle of the Coinbase exchange against the SEC appeared on BitcoinEthereumNews.com.

Coinbase, a major player in the world of cryptocurrency exchanges, has launched a major challenge against the Securities and Exchange Commission (SEC), according to a recent news report.  In a new legal brief, Coinbase argues that the SEC’s enforcement action seeks to redefine what qualifies as an investment contract, with far-reaching implications for the cryptocurrency industry and regulatory oversight. Crypto News: Coinbase challenges SEC attempt to redefine investment contracts in new filing Coinbase, a leading cryptocurrency exchange, has taken a bold stance against the Securities and Exchange Commission (SEC), claiming that the SEC’s enforcement action is attempting to redefine the nature of an investment contract.  In a new document, Coinbase argues that the SEC is overstepping its regulatory authority, with significant implications for the cryptocurrency industry and beyond. Coinbase’s response to the SEC’s enforcement action is a pivotal moment in the ongoing battle between the cryptocurrency industry and regulators.  The SEC’s enforcement action against Coinbase, which was filed alongside the action against Binance in early June, has sparked a heated debate over the scope of the SEC’s regulatory powers. In its complaint, Coinbase alleges that the SEC is attempting to expand its regulatory reach in a manner not authorised by Congress, a move that had been anticipated by insiders.  Coinbase first moved to dismiss the SEC’s lawsuit in August, and the exchange’s chief legal officer expressed hope that the lawsuit would force US regulators to establish clear and universally understood rules for the industry. At the heart of Coinbase’s argument is the SEC’s attempt to redefine what constitutes an investment contract.  The SEC’s position, as outlined in its lawsuit, is that an investment contract is created when an individual invests capital with the expectation that its value will increase. Coinbase challenges this interpretation, arguing that it departs from established precedent…

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Filed under: News - @ October 25, 2023 2:22 pm