The court battle between leading American cryptocurrency exchange Coinbase and the Securities and Exchange Commission (SEC) has reached a fever pitch with both sides currently trying to win the judge’s favour.
The final judgement is going to have an enormous impact on the future of the crypto industry in the U.S.
The legal battle is going on in the U.S. District Court for the Southern District of New York.
It was in June 2023 that the SEC charged Coinbase for violating securities laws in the U.S.
The exchange has asked the judge to throw out the regulator’s case.
Let’s have a quick look at the major arguments thrown in the court:
Despite the final judgement expected in the next few weeks, the judge hasn’t hinted to any decision yet.
Coinbase is the largest cryptocurrency exchange in the U.S. Not only that, but it is also a major player in the recently listed spot Bitcoin ETFs as the custody partner of eight of the ETF issuers, including BlackRock.
The exchange is now involved in the crypto segment in both the DeFi and TradFi markets.
The SEC’s case against Coinbase therefore assumes great importance as it has major repercussions on the entire crypto industry.
This article is for informational purposes only and not intended as investment or financial advice. It contains opinions and speculations that are subject to change without notice.
The author and publisher disclaim any liability for decisions made based on the content of this article. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions.