{"id":172052,"date":"2023-10-11T12:51:27","date_gmt":"2023-10-11T07:21:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=172052"},"modified":"2023-10-11T12:51:27","modified_gmt":"2023-10-11T07:21:27","slug":"us-sec-brings-multiple-amicus-curiae-against-coinbase-ripple-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-sec-brings-multiple-amicus-curiae-against-coinbase-ripple-crypto-news\/","title":{"rendered":"US SEC Brings Multiple Amicus Curiae Against Coinbase & Ripple – Crypto News"},"content":{"rendered":"

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In the latest development in the U.S. Securities and Exchange Commission v. Coinbase<\/a> lawsuit, the SEC has asked multiple securities and legal entities to file amicus curiae against Coinbase. American Securities Administrators Association (NASAA), New Finance Institute, and Administrative Law Scholars are new amici curiae supporting the U.S. SEC.<\/p>\n

SEC Strengthening Arguments In Coinbase Lawsuit<\/h2>\n

After failing to convince Judge Analisa Torres<\/a> in the Ripple lawsuit to file an interlocutory appeal, the U.S. Securities and Exchange Commission (SEC) seeks to strengthen its arguments in the Coinbase lawsuit.<\/p>\n

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North American Securities Administrators Association has filed an amicus brief in support of the SEC. The NASAA asked the court to reject Coinbase\u2019s motion for judgment on the pleadings.<\/p>\n

NSAA made several arguments including Congress defined \u201csecurity\u201d broadly to effectively regulate investments, in whatever form they may take; digital assets mentioned in SEC\u2019s enforcement actions are investment contracts under securities laws; and the Howey test does not require the existence of formal contractual undertakings. Moreover, it alleges that Coinbase\u2019s staking program is an investment contract.<\/p>\n

<\/p>\n

New Finance Institute (NFI) also filed an amicus brief in support of the SEC. It said neither \u201cinvesting\u201d nor \u201ccontract\u201d are prerequisites to finding an \u201cInvestment Contract.\u201d NFI argues that the SEC has the authority to regulate crypto and requests the court to deny Coinbase\u2019s motion for judgment on the pleadings.<\/p>\n

<\/p>\n

Administrative Law Scholars, Professors Todd Phillips and Beau Baumann also filed amicus briefs in support of the SEC to deny Coinbase\u2019s motion for judgment on the pleadings.<\/p>\n

Coinbase requested the court to dismiss the lawsuit<\/a> claiming that the SEC has no jurisdiction over the crypto industry and it interferes with recent Congress\u2019 efforts for a crypto regulatory framework.<\/p>\n

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In the latest development in the U.S. Securities and Exchange Commission v. Coinbase lawsuit, the SEC has asked multiple securities and legal entities to file amicus curiae against Coinbase. American Securities Administrators Association (NASAA), New Finance Institute, and Administrative Law Scholars are new amici curiae supporting the U.S. SEC. SEC Strengthening Arguments In Coinbase Lawsuit […]<\/p>\n","protected":false},"author":2,"featured_media":172053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-172052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=172052"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172052\/revisions"}],"predecessor-version":[{"id":172055,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172052\/revisions\/172055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/172053"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=172052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=172052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=172052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}