SEC Rejects Coinbase’s Attempt to Dismiss Lawsuit over Alleged Securities Violations

The post SEC Rejects Coinbase’s Attempt to Dismiss Lawsuit over Alleged Securities Violations appeared first on Coinpedia Fintech News

The US Securities and Exchange Commission (SEC) has denied arguments by Coinbase to dismiss an ongoing lawsuit alleging the exchange committed unregistered brokerage and securities violations. In a filing responding to Coinbase’s most delinquent criticism of its actions, the SEC reaffirmed its jurisdiction over securities cases, refuting Coinbase’s claim that it had no powers to control digital asset exchanges. The regulator also criticized the major questions ideology used in the case and said Coinbase was misinterpreting the Howey test, which helps classify transactions subject to securities laws. Coinbase’s chief legal officer said the SEC response was “more of the same”.