Coinbase Counters SEC Lawsuit: 'Constitutes An Extraordinary Abuse Of Process'
Portfolio Pulse from Murtuza Merchant
Coinbase Global Inc (NASDAQ:COIN) has filed a legal rebuttal to the lawsuit initiated by the U.S. Securities and Exchange Commission (SEC), arguing that the digital assets available for trading on its platform are beyond the SEC's regulatory scope. The SEC had accused Coinbase of offering about a dozen cryptocurrencies that were not registered securities. Coinbase contends that these cryptocurrencies do not qualify as investment contracts and therefore should not be classified as securities.
June 29, 2023 | 3:20 pm
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Coinbase's legal rebuttal to the SEC lawsuit could potentially impact its stock price. The outcome of the lawsuit could have significant implications for the company's operations and the broader cryptocurrency market.
The lawsuit and Coinbase's response could potentially impact the company's stock price in the short term. The outcome of the lawsuit could have significant implications for the company's operations and the broader cryptocurrency market, which could in turn affect investor sentiment and the company's stock price.
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