{"id":28297,"date":"2024-03-27T15:27:02","date_gmt":"2024-03-27T15:27:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/judge-rules-sec-can-proceed-with-case-against-coinbase\/"},"modified":"2024-03-27T15:27:02","modified_gmt":"2024-03-27T15:27:02","slug":"judge-rules-sec-can-proceed-with-case-against-coinbase","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/judge-rules-sec-can-proceed-with-case-against-coinbase\/","title":{"rendered":"Judge rules SEC can proceed with case against Coinbase"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Judge rules SEC vs. Coinbase case to proceed.<\/span><\/li>\n<li>US <span style=\"font-weight: 400\">District Judge Kathrine Failla however granted Coinbase\u2019s motion on its wallet.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">A federal judge has ruled that the US Securities and Exchange Commission (SEC) lawsuit against crypto exchange <a href=\"https:\/\/coinjournal.net\/news\/tag\/coinbase\/\">Coinbase<\/a> will move forward.<\/span><\/p>\n<p><span style=\"font-weight: 400\">US District Judge Kathrine Failla gave the ruling on Wednesday, with the court\u2019s order denying Coinbase\u2019s motion to dismiss the case.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Judge denies Coinbase motion<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The SEC <a href=\"https:\/\/coinjournal.net\/news\/the-sec-strikes-again-first-binance-now-coinbase\/\">sued Coinbase in June 2023<\/a>, alleging that the US-based company operated an unregistered crypto exchange and offered unregistered securities.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Judge Failla allowed the SEC\u2019s case noting that the regulator had \u201csufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws, and, through its Staking Program, engages in the unregistered offer and sale of securities.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The court however, granted Coinbase\u2019s motion to dismiss SEC\u2019s claims against Coinbase Wallet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>Today, the Court decided that our SEC case will move forward on most of the claims, but dismissed the claims against Coinbase Wallet. We were prepared for this, and we look forward to uncovering more about the SEC\u2019s internal views and discussions on crypto regulation<\/em>,\u201d Coinbase chief legal officer Paul Grewal said in a comment<\/span><a href=\"https:\/\/twitter.com\/iampaulgrewal\/status\/1772993916146479193\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400\">posted<\/span><\/a><span style=\"font-weight: 400\"> on X.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>We also appreciate the Court\u2019s understanding that technology innovations like Coinbase Wallet do not and cannot implicate US securities laws<\/em>,\u201d Grewal added.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Coinbase will now prepare to meet the SEC in court, the exchange\u2019s legal officer said. According to court documents, the parties now have until April 19, 2024 to submit a proposed case management plan.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/\">Crypto prices<\/a> fell slightly following the news. Top altcoins like Solana, Cardano and Avalanche saw losses of more than 3% each. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin slipped below $70k while Ethereum hovered to near $3,500.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/judge-rules-sec-can-proceed-with-case-against-coinbase\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Judge rules SEC vs. Coinbase case to proceed. US District Judge Kathrine Failla however granted Coinbase\u2019s motion on its wallet. A federal judge has ruled that the US Securities and Exchange Commission (SEC) lawsuit against crypto exchange Coinbase will move [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":28298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28297"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=28297"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/28298"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=28297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=28297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=28297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}