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Also Read: Cathie Wood’s Ark Invest Predicts Bitcoin (BTC) Price Amid Key Macro Events advertisement “SEC Deviated From Prior Interpretation Of Law” Attorneys representing the Crypto exchange filed a memorandum of law in support of Coinbase ’s motion for judgment on the pleadings before the United States District Court for the Southern District of New York. They argued that the SEC violated due process, and abandoned its own earlier interpretations of the securities laws. “By ignoring that precedent, the SEC has trampled the strict boundaries on its basic authority set by Congress,” said Paul Grewal, the chief legal officer at the exchange. Similar To XRP Lawsuit The attorneys also explained that the agency’s effort to portray a simple asset sale as a security is an unprecedented stretch.” Interestingly, the attorneys referred to the XRP lawsuit ruling, saying: “The Ripple court found no investment...

Craig Wright, the self-proclaimed creator of Bitcoin [BTC], recently emerged in the news again. During the decline of numerous crypto projects and the 2022 market crash, Wright kept a relatively low profile. However, the limelight is now on him as James Mellor, a judge at the England and Wales High Court, ruled that Wright must provide 400,000 British pounds or $516,000 as security for legal expenses. This is in order to pursue his allegations against crypto exchanges Coinbase and Kraken. Back in 2022, Craig Wright filed a lawsuit against Coinbase and Kraken , blaming them for copyright infringement. The entrepreneur asserted that both exchanges, especially Payward, the operator of Kraken , violated his intellectual property rights by using the term ‘Bitcoin’. Also Read: Craig Wright , Self-Proclaimed Satoshi Nakamoto Has Sued Coinbase and Kraken for “Misrepresenting” Bitcoin Here’s why the Judge is doubtful of Craig Wrights’s financial ...

Coinbase CEO Brian Armstrong will meet with a bipartisan group of US House of Representatives on July 19 to discuss proposed new laws about digital assets.  The US Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase and Binance, alleging that they failed to carry out registration. According to Bloomberg, Armstrong plans to discuss taxation, national security, privacy issues, and climate change against this background. Coinbase CEO Brian Armstrong will meet with US House Democrats behind closed doors on Wednesday https://t.co/Rm6w3u1uaC — Bloomberg (@business) July 17, 2023 The New Democrat Coalition representative said in an email that the meeting would touch upon vital matters relevant to the industry. You might also like: Bank of America not randomly closing accounts of Coinbase clients Successful SEC lawsuits could significantly impact the cryptocurrency market, as they would establish the commission’s authority over the sector....

Also Read: Hinman Emails Depicts SEC Fovoured Ethereum Over Other Cryptos advertisement SEC Seeks 4 Additional Months To Reply As per the court filing, the U.S. SEC stated that it has not decided what action needed to take on the rulemaking petition. It added that the order refers to enforcement actions and statements by the SEC Chair, however, it does not demonstrate a decision to reject the exchange’s rulemaking petition. The commission has asked for additional 120 days to reply to the crypto clarity request. Paul Grewal, Chief Legal Officer of Coinbase mentioned that the U.S. SEC repeated the fallacy that they haven’t decided to take any action to serve new crypto rules. The commission has completely refused to commit to any clear deadline despite facing a court’s explicit order. It is important to note that the commission has entirely ignored the statements made by its Chair that eventually confirm that they have no intention to issu...

Bitcoin price stages a sudden comeback from its lowest levels since mid-March. Bitcoin (BTC) recovered some of its lost ground after the June 6 Wall Street open despite new legal action from United States regulators. BTC/USD 1-day candle chart on Bitstamp. Source: TradingView Analyst sees Coinbase marking BTC price low Data from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC/USD, which reached $26,250 on Bitstamp. The pair had dipped to nearly three-month lows of $25,350 earlier in the day amid news that the U.S. Securities and Exchange Commission (SEC) was suing exchange Coinbase. An accompanying press release referred to acting as an unregistered broker "engaging in an unregistered securities offering through its staking-as-a-service program" beginning in 2019. The move followed legal proceedings against the U.S. arm of largest exchange Binance the day prior, this having a much more pronounced impact on crypto markets. "Despite SEC lawsui...