- Coinbase (NASDAQ:COIN) has filed a brief in the U.S. Court of Appeals for the Third Circuit on Monday.
- As pointed out by Paul Grewal, the brief highlights the inconsistencies in the SEC’s arguments.
- The exchange requests the court to force the SEC to adopt a new set of comprehensive crypto rules
Don't want to read our entire 78-page brief in our Third Circuit suit against the SEC? Just read this to understand how broken the Commission's approach has been. pic.twitter.com/jBlEr9DKOZ— paulgrewal.eth (@iampaulgrewal) March 11, 2024
Grewal highlighted the inconsistencies in the SEC’s arguments that contradict themselves. The lawyer directed his readers to go through the brief notes in the post that show “how broken the Commission’s approach has been.”
According to Grewal’s post, the brief centered around three key questions involving digital assets’ status as a security, the SEC’s authority over cryptocurrencies, and the clarity of the existing law. He pointed out that over time, the SEC has made contradicting arguments regarding these pertinent questions.
Notably, in 2018, the SEC stated that digital assets are not security. However, in 2021, they argue…
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