Coinbase has asked a judge to dismiss the U.S. Securities and Exchange Commission’s lawsuit claiming the crypto exchange violated federal security laws, Reuters’ Chris Prentice reports, citing a federal court filing. The company said the agency has no authority to pursue the suit as the digital assets and services it objected to did not qualify as securities. “Our core argument is simple – we do not offer ‘investment contracts’ as that term has been construed by decades of Supreme Court and other binding precedent,” Coinbase CLO Paul Grewal said.
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