In its ongoing lawsuit with the SEC, Coinbase filed a response in support of its motion to certify an interlocutory appeal to the Second Circuit Court. Pablo GrewalChief Legal Officer of Coinbase, highlighted this new development on X (formerly Twitter).
In its ongoing lawsuit with the SEC, Coinbase filed a response in support of its motion to certify an interlocutory appeal to the Second Circuit Court. Pablo GrewalChief Legal Officer of Coinbase, highlighted this new development on X (formerly Twitter).
According to Grewal, the company’s position remains strong: advocating for regulatory clarity for the crypto industry and the 52 million Americans who own digital assets, while challenging the perception that the SEC is overreaching beyond its mandate. mandate of Congress.
The crux of Coinbase’s appeal centers on whether the SEC can regulate digital asset transactions as “investment contracts” without any contractual element involved. This problem is not unique to Coinbase; The SEC itself acknowledged the “industry-wide importance of the question” and the substantial differences of opinion in seeking similar relief in the Ripple case.
From the beginning, Coinbase has attempted to engage in constructive dialogue with the SEC to establish a balanced regulatory framework for crypto innovation within the US. However, these efforts have been met with resistance, inconsistent positions, and litigation, Grewal noted in a thread. of tweets.
Tomiwabold OlajideIn its recent filing, Coinbase emphasizes the urgency of addressing this critical legal issue through an interlocutory appeal, highlighting its importance to the future of the crypto industry. Earlier this week, the House recognized the need for clear regulatory rules, also reinforcing Coinbase’s call for clarity.
Regardless of the timeline, Grewal stated that Coinbase was determined to see this matter through to its conclusion, with the goal of ensuring regulatory clarity and addressing “overzealous regulators.” The company claims that such efforts are essential for the benefit of the 52 million Americans involved in cryptocurrencies.
As the legal battle continues, the outcome of this current phase of the lawsuit could have profound implications for the entire cryptocurrency industry.
