JUST IN: Coinbase has previously acknowledged that some cryptocurrencies listed on its platform might be securities, the SEC argued in a filing responding to the exchange. nikhileshde reports
Coinbase acknowledged the possibility that federal securities laws would apply to its listings years ago, the U.S. Securities and Exchange Commission argued in a new filing Friday.to a Coinbase filing which argued that the agency does not have sufficient jurisdiction to bring a lawsuit against it.
However, the regulator continued, Coinbase had previously"adopted the very legal framework" enacted by the U.S. Supreme Court to determine whether certain cryptocurrencies met the requirements of federal securities laws, while"explicitly discourag[ing]" crypto issuers from making any statements"traditionally associated with securities.
The SEC also previewed its arguments pushing back against Coinbase's proposed motion for judgement, saying the crypto exchange made two"equally flawed arguments."
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