Logo
Cardano Ecosystem

CoinCu News

01/17/2024

·

26 views


Coinbase SEC Lawsuit Is Currently Very Tense -

2 mins ago - Around 2 mins mins to read Key Points: Coinbase aims to dismiss the SEC’s lawsuit, arguing its traded tokens are not securities, seeking exemption from SEC oversight. A pivotal court...

Coinbase SEC Lawsuit Is Currently Very Tense -

2 mins ago - Around 2 mins mins to read

Key Points:

  • Coinbase aims to dismiss the SEC’s lawsuit, arguing its traded tokens are not securities, seeking exemption from SEC oversight.
  • A pivotal court hearing on January 17 will decide the fate of the Coinbase SEC lawsuit.
  • The SEC accuses Coinbase of allowing unregistered securities trading and challenges its “staking” program.
In a pivotal court hearing scheduled for January 17 at 10 a.m. ET, Coinbase, the world’s largest publicly traded cryptocurrency exchange, will present arguments urging the U.S. Securities and Exchange Commission (SEC) to drop its lawsuit.
Coinbase SEC Lawsuit Is Currently Very Tense

Read more: Coinbase Ventures Review: The Most Dynamic Investment Fund

Crucial Hearing Today: SEC vs. Coinbase in Landmark Cryptocurrency Case

The SEC filed the suit on June 6, 2023, accusing Coinbase of violating federal securities laws by allowing the trading of 13 cryptocurrencies.

According to Reuters, Coinbase asserts that the SEC is overstepping its authority, contending that cryptocurrencies are distinct from traditional securities like stocks and bonds and thus not subject to SEC oversight. The company aims to have the case dismissed, arguing that the assets it lists for trading differ from regulated securities.

The Coinbase SEC lawsuit, as reported by Reuters, carries significant implications for the broader digital asset sector, potentially clarifying the SEC’s regulatory role. The lawsuit claims the exchange facilitated the trading of cryptocurrencies, including Solana, Cardano, and Polygon, without proper registration, operating as an illegal securities exchange.

Coinbase SEC Lawsuit Tension Between Regulatory Landscape Shifts

During the hearing, Judge Katherine Polk Failla questioned the SEC’s stance on classifying crypto tokens as securities, expressing concerns about broadening the definition. The SEC contends that these tokens represent a larger blockchain network, making them akin to investment contracts.

The Coinbase SEC lawsuit also targets Coinbase’s “staking” program, alleging it should have been registered with the agency. This case is part of the SEC’s broader regulatory efforts in the cryptocurrency space, marking a shift in focus under Chairman Gary Gensler.

As the Coinbase SEC lawsuit unfolds, it exemplifies the ongoing struggle between cryptocurrency companies and regulatory bodies, reflecting the SEC’s intensified focus on major exchanges. The outcome could set crucial precedents for the industry, potentially reshaping the regulatory landscape for digital assets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

AD

TapTax - Cardano Crypto Taxes Made Simple. Available Now!

Simplify your Crypto Tax experience! From a passive holder, to day trader, to NFT project, we have your taxes covered.BUY NOW!


Read Original Article on CoinCu News

ORIGINAL SOURCE

https://coincu.com/242613-coinbase-sec-l...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from CoinCu News

See more
Digital Asset Investment Products Saw Inflows $151 Million In The First Week Of 2024 -
CoinCu News
Digital Asset Investment Products Saw Inflows $151 Million In The First Week Of 2024 -

01/08/2024

·

45 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)