Coinbase Files Request for Dismissal of Charges

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Coinbase Files Request for Dismissal of Charges
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❗ coinbase has filed a request for the dismissal of charges against it! What did the exchange's response say? Read more here -

Merely a few weeks after the SEC sued the platform for facilitating unregistered trading with 12 tokens that the agency considers to be securities, Coinbase’s legal representatives have filed for a complete dismissal of the lawsuit, citing concerns regarding the legal authority of the regulator.One of the principal arguments laid out by Coinbase’s legal team is that six of the twelve cryptocurrencies at the heart of the lawsuit had already beenby the SEC back in 2021.

Since the SEC had already confirmed that the tokens in question were not considered securities, Coinbase argued that the current lawsuit is merely the result of internal policy changes that were not communicated to the companies the watchdog wishes to regulate. “The SEC’s about-face is not a product of material changes to Coinbase’s business since 2021; none are alleged. Nor is it due to new information. Nowhere in its Complaint does the SEC suggest that Coinbase hid anything in the many years of cooperative discussion that preceded it becoming a public company. Nor is the reversal a product of legislative change. […] The only change is in the SEC’s position regarding its powers.

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