Coinbase has filed a motion to dismiss a Securities and Exchange Commission lawsuit in which the agency accused the company of illegally running an unregistered national securities exchange, broker and clearing agency. Coinbase claims that, because it doesn't deal in securities, the SEC has no authority over its operations. "Our core argument is simple we do not offer 'investment contracts' as that term has been construed by decades of Supreme Court and other binding precedent," Coinbase's chief legal officer Paul Grewal wrote in a series of tweets. "By ignoring that precedent, the SEC has violated due process, abused its discretion and abandoned its own earlier interpretations of the securities laws. By ignoring that precedent, the SEC has trampled the strict boundaries on its basic authority set by Congress." Today, @coinbase filed our brief asking the Court to dismiss the SEC's case against us. Our core argument is simple we do not of
Coinbase, in a new filing Friday that seeks to dismiss a SEC lawsuit entirely, argues digital currencies sold on its exchange are more like baseball cards than investment securities.
TerraClassicUSD (USTC) traded up 9.9% against the US dollar during the 24 hour period ending at 23:00 PM ET on August 2nd. One TerraClassicUSD coin can currently be purchased for approximately $0.0161 or 0.00000055 BTC on popular exchanges. TerraClassicUSD has a market cap of $157.40 million and approximately $35.94 million worth of TerraClassicUSD was traded […]
Terra (LUNA) traded down 1.2% against the US dollar during the one day period ending at 0:00 AM Eastern on August 2nd. One Terra coin can now be bought for approximately $0.57 or 0.00001957 BTC on major cryptocurrency exchanges. During the last week, Terra has traded down 6.3% against the US dollar. Terra has a […]