• Coinbase has challenged the SEC’s move to strike out its defense and is pushing against any delays in its hunt for dismissal.
• The crypto exchange argued against the SEC’s motion to strike, claiming that it offered factual and legal reasons for the major questions doctrine.
• A pre-motion conference is scheduled for Thursday, July 13 to determine whether Coinbase will be granted permission to file motions to dismiss.
SEC Case Against Coinbase Moves Into High Gear
The United States Securities and Exchange Commission (SEC) case against Coinbase is gaining momentum after Coinbase filed a response to the complaint on June 28. The crypto exchange revealed its intent to seek dismissal of the case, but the SEC has since moved to strike out much of their defense. In response, Coinbase has questioned the merits of this motion and pushed back on any delays in their proposed timeline for motions to dismiss.
Coinbase Challenges SEC Motion To Strike
In a Wednesday letter sent before an upcoming hearing, lawyers representing Coinbase highlighted that the SEC must prove that no question of fact or law may allow their defense to succeed in order to strike out their motion. They also argued that should they be granted permission by the court, it should not interfere with their timeline for filing motions to dismiss.
Pre-Motion Conference Scheduled For Thursday
A pre-motion conference is scheduled for Thursday, July 13th which will determine whether or not Coinbase will be granted permission to file motions to dismiss. Crypto legal commentator James “MetaLawMan” Murphy described this process as a formality and stated that typically permission is granted in these circumstances.
Arguments For The Major Questions Doctrine
The crypto exchange’s response offered factual and legal reasons why the major questions doctrine should prevent the SEC from asserting jurisdiction over cryptocurrency markets. They argued that this doctrine provides people with greater freedom when using blockchain technology without fear of government interference or repercussions from regulators like the SEC..
Coinbase continues pushing forward with its efforts towards seeking dismissal of the case brought by the US Securities and Exchange Commission, challenging strikes aimed at removing much of their defense while urging a prompt schedule for filing motions towards dismissal ahead of an upcoming hearing on Thursday.