SEC’s Coinbase Lawsuit Should Be Dismissed, U.S. Senator Lummis, Crypto Lobby Orgs Say

U.S. Senator Cynthia Lummis (R-Wy.), a number of crypto lobbying organizations and a group of professors called on a federal court to dismiss a Securities and Exchange Commission (SEC) lawsuit against crypto exchange Coinbase Friday.

Filing amicus – or friend of the court – briefs, the organizations and lawmaker alleged the SEC was trying to exceed its authority in bringing a lawsuit alleging crypto trading platforms like Coinbase are simultaneously unregistered securities exchanges, brokers and clearinghouses trading similarly unregistered securities in the form of crypto assets. The SEC brought lawsuits against Coinbase and fellow exchange Binance (and the latter’s U.S. arm, Binance. US) in June this year.

Source: SEC’s Coinbase Lawsuit Should Be Dismissed, U.S. Senator Lummis, Crypto Lobby Orgs Say