Coinbase files motion to dismiss SEC’s suit, branding it 'an extraordinary abuse of process'

Coinbase filed a motion to dismiss the lawsuit recently brought against it by the U.S. Securities and Exchange Commission .Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Crypto exchange Coinbase filed a motion to dismiss the recent lawsuit lodged against it by the U.S. Securities and Exchange Commission .

Filing a motion to dismiss underscores Coinbase’s determination to challenge the SEC’s lawsuit. A motion to dismiss argues that even if all the allegations in the lawsuit are true, the plaintiff does not have a valid legal claim. In the Thursday filing, Coinbase claimed that the digital assets in question are not securities. “None of the assets the SEC has now identified are in fact securities, and for that and other reasons, secondary transactions in those assets are also not securities,” it stated.

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Source: CoinDesk - 🏆 291. / 63 Read more »