Coinbase advocates for dismissal of SEC’s allegations of securities violation
Coinbase, one of the largest crypto exchanges globally, bit back on Wednesday during a hearing to decide whether it committed securities violations.
The U.S. Securities and Exchange Commission filed the suit in June 2023, just one day after it sued Binance, the largest crypto exchange by volume, over securities matters.
In the SEC’s claims against Coinbase, it also alleged that the 13 cryptocurrencies available for trading on the exchange were securities.
Although separate, the Binance suit also had 12 crypto assets mentioned as securities.
The judge requested that the securities-focused agency explain what elements of crypto assets constitute investment contracts.
