• Coinbase has challenged the SEC’s move to strike out its defense in a recent filing.
• The exchange has argued against delays in its hunt for dismissal ahead of an upcoming hearing.
• A pre-motion conference is scheduled for Thursday, July 13, and will determine whether the crypto exchange will be granted permission to file its motions to dismiss.
Coinbase Challenges SEC’s Delay Tactics
Coinbase has challenged the Securities and Exchange Commission’s (SEC) move to strike out its defense in a recent filing. The crypto exchange has argued against any delays in their hunt for dismissal ahead of an upcoming hearing.
SEC’s Motion to Strike Coinbase Defense
The United States Securities and Exchange Commission recently filed a case against Coinbase and the exchange responded by filing their response which revealed their intent to seek dismissal of the case on June 28th. The commission then revealed it’s desire to strike out the bulk of Coinbase’s defense on July 7th, leading up to the current challenge from Coinbase.
Coinbase Seeks Permission To File Motions To Dismiss
In a letter sent Wednesday, July 12th, lawyers representing Coinbase highlighted that they believe that no question of fact or law may allow the defense to succeed and requested that should the court grant leave for the SEC to file motionsto strike, it should not impact their proposed timeline for motions to dismiss. A pre-motion conference is scheduled for Thursday, July 13th and will decide whether Coinbase will receive permission to file their motions to dismiss.
Commentary From Crypto Legal Commentator
Prominent crypto legal commentator James „MetaLawMan“ Murphy commented that this process was a formality and typically permission is granted in these circumstances. He also added that if permission is granted then there shouldn’t be any interference with Coinbase’s proposed schedule for motions to dismiss.
It remains uncertain when we will see an outcome from this ongoing dispute between Coinbase and the SEC but what is certain is that both parties are eager for resolution as we await further developments from tomorrow’s hearing.