Coinbase asks US federal judge to dismiss SEC's lawsuit : vi

Coinbase asks US federal judge to dismiss SEC's lawsuit

NEW YORK (Reuters) -Coinbase Global on Friday asked a judge to end the U.S. Securities and Exchange Commission's lawsuit accusing the world's largest publicly traded cryptocurrency exchange of violating federal securities laws. In a filing in federal court in Manhattan, Coinbase said the SEC had no authority to pursue its lawsuit because the digital assets and services it objected to did not qualify as securities, and said the agency has overreached. "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 Chief Legal Officer Paul Grewal said in a post on X, formerly Twitter.

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