Coinbase challenges SEC’s attempt to dismiss defenses, asserts lack of regulatory authority over crypto

Coinbase described the U.S. Securities and Exchange Commission’s (SEC) intent to strike out its defenses as a “disfavored” motion, according to a July 12 letter to Judge Katherine Failla.

In the letter, the Coinbase lawyers pointed out that its defense based on the “major questions doctrine, abuse of discretion, equitable estoppel, unclean hands, and laches” should succeed because the SEC’s proposed motion does not meet the dismissal standards.