{"id":451310,"date":"2023-10-25T10:10:44","date_gmt":"2023-10-25T10:10:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=451310"},"modified":"2023-10-25T17:11:44","modified_gmt":"2023-10-25T17:11:44","slug":"coinbase-accuses-sec-of-overreach-in-lawsuit-says-it-wants-regulatory-authority-to-match-its-ambition","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/coinbase-accuses-sec-of-overreach-in-lawsuit-says-it-wants-regulatory-authority-to-match-its-ambition","title":{"rendered":"Coinbase Accuses SEC Of Overreach in Lawsuit, Says It Wants Regulatory Authority To Match Its ”Ambition”"},"content":{"rendered":"
Coinbase said the US Securities and Exchange Commission (SEC) is overreaching its regulatory authority as it seeks to dismiss a lawsuit the regulator filed against it.<\/p>\n
The SEC’s definition of what constitutes an investment contract is overly broad, and assets traded on Coinbase’s platform do not fall under the regulator’s purview, it said in an <\/span>Oct. 24 court filing.<\/a><\/span><\/p>\n “<\/span>The SEC’s authority is limited to securities transactions,” it said. “<\/span>Not every parting of capital with a hope of gain qualifies, and trades over Coinbase are only securities transactions if they involve ‘investment contracts.’ The transactions at issue here do not.” <\/span><\/p>\n The @SECGov<\/a>'s opp. to our motion for judgment claims roving authority over all investments, with “security” and “contract” in the statutes performing no limiting function at all. As our reply shows, that's never been the law, and it's not the law now. 1\/3 https:\/\/t.co\/gVFyrJ8oIq<\/a><\/p>\n — paulgrewal.eth (@iampaulgrewal) October 24, 2023<\/a><\/p><\/blockquote>\n\n