Coinbase Goes to Court Against the SEC

Coinbase (COIN) and the Securities and Exchange Commission will meet in court this week. The hearing – the questions asked and the answers given – should provide some hints on how the case may go (for now, anyway).

SEC Has No Jurisdiction Over Cryptos on Coinbase’s Platform, Exchange Claims in Response to Regulator’s Lawsuit

U.S. crypto exchange Coinbase claimed that digital assets listed on its platform fall outside the U.S. Securities and Exchange Commission’s (SEC) purview in its first legal response to the regulator’s lawsuit. The SEC sued Coinbase at the beginning of June, alleging that a dozen of the cryptocurrencies offered through its wallet or trading platforms were unregistered securities. In its answer, filed early Thursday, Coinbase claimed that these cryptos are not investment contracts and therefore are not securities.

U.S. Supreme Court to Hear First Crypto Case Tuesday

The U.S. Supreme Court will hear arguments in its first ever crypto-related case on Tuesday, when lawyers for San Francisco-based crypto exchange Coinbase will attempt to convince the nine Justices to pause a pair of class action lawsuits against the exchange.