SEC: Coinbase could not have been unaware of its violation of securities laws
According to The Block, a Securities and Exchange Commission (SEC) lawyer stated that Coinbase claiming in court filings that they "didn't know they were violating securities laws" is unbelievable.
Table of Contents
SEC Lawyer Questions Coinbase's Claims
An SEC lawyer has stated that Coinbase's assertion that the company was approved for public listing by the SEC in 2021 implies that it was and will continue to be legal at that time and in the future, and claims ignorance that its actions may violate securities laws.
The SEC has mentioned that Coinbase went public based on securities law but is now claiming that its activities are not subject to that regulatory framework.
Coinbase's Chief Legal Officer, Paul Grewal, responded by stating that the points raised by the SEC are rehashed arguments that not only overturn their previous approval but also disregard warnings about excessive regulation.
After Coinbase gave notice of it intent to move to throw out their case, we consented to a few extra days for the SEC to explain why it intends to oppose. They’ve now filed and, sadly, it’s more of the same. 1/6
— paulgrewal.eth (@iampaulgrewal) July 7, 2023
Related
- Nomura and other Japanese financial institutions jointly call for the opening of Bitcoin and Ethereum ETFs.
- Trump's winning odds rise, CFTC closely monitors prediction markets, reports of Polymarket increasing scrutiny on US users
- Legislator Ke Jung-Chun closely monitors the progress of the special law on virtual assets, Central Bank: Bitcoin is not currently considered foreign exchange reserves.