SEC Urges Judge to Reject Coinbase’s Motion to Dismiss Lawsuit The United States Securities and Exchange Commission (SEC) has recently urged a judge to deny Coinbase's motion to dismiss a lawsuit brought against them. The SEC argues that the lawsuit, which alleges that Coinbase engaged in illegal securities trading, should move forward and not be dismissed.
In its motion, Coinbase claimed that the lawsuit should be dismissed on the grounds that the company did not engage in the sale or offer of any securities. However, the SEC argues that Coinbase's digital asset exchange platform, which allows users to trade various cryptocurrencies, constitutes a securities trading platform and falls under their purview.
The lawsuit was filed by a group of investors who claim to have suffered financial losses as a result of allegedly fraudulent practices carried out by Coinbase. The investors argue that Coinbase failed to disclose important information and misled them about the nature of the digital assets being traded o