Coinbase and SEC court dates set for case arguments

coinbase

The lawsuit involving the United States Securities and Exchange Commission (SEC) against leading cryptocurrency exchange Coinbase will proceed with a hearing where both parties will be able to voice their initial arguments in the case.

Announcing the update, Coinbase’s chief legal officer Paul Grewal tweeted that the New York judge of the case, Katherine Polk Failla, has approved the request from both the SEC and Coinbase:

There had been no due date set for the SEC’s brief. To this, the crypto exchange proposed 30 days after its opening motion; the SEC has proposed 60 days.

New York judge Failla responded by granting a part approval, which has included the 4th of August for the initial brief and the 11th of August for the supporting documents. The SEC opposition’s brief has been set for October 10th October.

Is Coinbase still operating while in legal dispute?

On July 14th, Coinbase announced that it would be pausing the staking programme for customers in California, New Jersey, South Carolina and Wisconsin. According to the exchange, compliance is the priority whether or not it agrees with the allegations:

“We strongly disagree with any allegation that our staking services are securities. But we will fully comply with the preliminary state orders where required, even though that comes before we’ve had an opportunity to defend ourselves… We stand by staking. Today almost every major blockchain relies on staking because it is open, secure, and environmentally friendly. Americans in every state deserve access to the same technology and economic opportunities as people everywhere.”

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