The U.S. Securities and Exchange Commission (SEC) has requested a federal jurist to reject Coinbase’s attempt to dismiss a much discussed lawsuit blaming the trading platform for sued for providing unlicensed securities. The trading organization contended that the SEC had exceeded its rule in taking action against Coinbase for dealing with crypto-assets which had been unregistered with the commission as securities. While the SEC defended that it was working within legal limits concerning investor protection, the performance of this Coinbase-SEC court battle keeps a great relevance for the cryptocurrencyagenda and the SEC’s overreach regarding digital asset firms. With Vice-Chairman Gary Gensler at the helm, the SEC has gone forward saying that a majority of cryptocurrencies are identifiable as securities under its regulatory system. Coinbase, however, casts doubts alleging that lots of assets are not characterized as securities. This case now offers a springboard for forecasting forthcoming SEC observance over the digital currency industry.
