Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Coinbase-SEC’s 1st Hearing: What To Expect?

Coinbase-SEC’s 1st Hearing: What To Expect?

Hania by Hania
July 13, 2023
in Crypto Exchanges
Reading Time: 3 mins read
A A
0
Coinbase-SEC’s 1st Hearing: What To Expect?
Share on FacebookShare on Twitter
ADVERTISEMENT

As the first hearing since the SEC’s June 6, the conference is expected to be “procedural and administrative,” though it may also provide insight into the tone of the disagreement.

According to legal sources, the pre-motion hearing between the U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Coinbase scheduled for July 13 will provide a sense of the nature of the proceeding and its potential effects on the larger crypto business. 

The conference is a normal request put forward by any party looking for a decision on a particular topic prior to the trial. It was initially set for August. In this instance, Coinbase filed a motion request in late June. The exchange requests that Judge Katherine Polk Failla dismiss the regulator’s case, which was filed on June 5.

The conference will likely be “procedural and administrative heavily, according to Mark Kornfeld, a securities and regulatory attorney, as it would be the first hearing between the parties.

You May AlsoLike

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

February 28, 2025
Bitget Introduces BitEXC

Bitget Introduces BitEXC: A Customized Crypto Platform for Vietnam

December 3, 2024

“Coinbase will try to position this case as one that is ripe for early dismissal on any number of grounds, notably that the tokens are not securities under the Howey test and, as a result, the commission is exceeding its jurisdictional authority,” he continued.

Coinbase-SEC's 1st Hearing: What To Expect?In its response to the motion on July 7, the SEC expressed strong disapproval of the exchange, including the fact that it was aware of possible violations of securities laws and that it is considering “ignoring more than 75 years of controlling law under Howey” in an effort “to construct its own test for what constitutes an investment contract.”

Also Read: Cathie Wood’s ARK Sells 135K Coinbase Shares As The Price Reaches $90

The motion made by Coinbase also makes reference to its 2021 IPO. The exchange claims that the SEC is now pursuing charges for actions that were previously “exhaustively described” to the regulators and the public.

Even though Coinbase’s business activities were known to the SEC, the claim could not have been sufficient to succeed in court. Roland Chase, a corporate and securities lawyer, claims that disclosure-based federal securities regulations regulate the “going public” procedure.

According to Chase, the SEC’s only legally permitted activity is to review IPO documents, offer feedback, and ask questions in an effort to enhance the company’s investor transparency.

Coinbase-SEC's 1st Hearing: What To Expect?

Chase also mentioned that Coinbase informed the SEC in its application to go public that it would thoroughly examine each asset before allowing it to trade on its platform to make sure securities were not exchanged.

He said that the SEC “now thinks that Coinbase is, in fact, trading securities on its platform.” “The SEC eventually got comfortable with all this disclosure and cleared Coinbase to go public,” he said. Furthermore, it believes Coinbase offers its own unregistered securities.

Without a compromise between the parties, the case’s resolution could take years.

A prominent instance of this is Ripple’s legal struggle, which has been ongoing since 2020 when the SEC also determined that its token, XRP, was a security. In a recent video regarding the ongoing litigation, the CEO of Ripple, Brad Garlinghouse, stated that the SEC “created confusion about the rules on purpose, and then used that confusion to enforce the rules.”

Read more:

What Could Happen to XRP Holders If Ripple Losses To SEC?

Tags: REGULATIONSSECunited states
Share76Tweet47
ADVERTISEMENT
Previous Post

Massive Shiba Inu Whale Moves 4 Trillion $SHIB Tokens!

Next Post

Introducing POL: Polygon Releases An Ambitious 2.0 Roadmap

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement
Crypto Exchanges

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

February 28, 2025
Bitget Introduces BitEXC
Crypto Exchanges

Bitget Introduces BitEXC: A Customized Crypto Platform for Vietnam

December 3, 2024
Coinbase high listing fee
Crypto Exchanges

Coinbase Face Scrutiny Over High Listing Costs, Sparking Shift Towards Decentralized Platforms

November 5, 2024
Bitfinex to Receive 120K BTC for 2016 Hack
Crypto Exchanges

Bitfinex to Receive 120K BTC for 2016 Hack: A Major Recovery Update

October 9, 2024
Crypto.com Takes Legal Action Against SEC Following Wells Notice
Crypto Exchanges

Crypto.com Takes Legal Action Against SEC Following Wells Notice

October 8, 2024
Coinbase Clears Up Confusion Over Kamala Harris’ Crypto Donations
Crypto Exchanges

Coinbase Clears Up Confusion Over Kamala Harris’ Crypto Donations

September 10, 2024
Next Post
Introducing POL: Polygon Releases An Ambitious 2.0 Roadmap

Introducing POL: Polygon Releases An Ambitious 2.0 Roadmap

Discussion about this post

Live Prices

You have not selected any currency to display

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    239 shares
    Share 96 Tweet 60
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    201 shares
    Share 80 Tweet 50
  • November’s Bitcoin Price Forecast: A Bullish Odyssey

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.